Quantitative Investment Management LLC Purchases Shares of 48,494 British American Tobacco p.l.c. $BTI

Key Points

• Quantitative Investment Management LLC initiated a new position in British American Tobacco, buying 48,494 shares in Q3 valued at approximately $2.57 million.
• BAT announced a quarterly dividend of $0.8349 per share (annualized $3.34) with a yield of 5.6%; record and ex-dividend dates are December 29 and payment is scheduled for February 8.
• The stock carries a consensus rating of "Moderate Buy" (8 buys vs. 2 sells) with an average price target of $51, while shares trade near $59.87.

Quantitative Investment Management LLC purchased a new position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 48,494 shares of the company's stock, valued at approximately $2,574,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC bought a new position in British American Tobacco during the 3rd quarter worth $29,000. Cary Street Partners Financial LLC acquired a new stake in shares of British American Tobacco in the second quarter valued at about $30,000. Salem Investment Counselors Inc. increased its stake in shares of British American Tobacco by 48.6% in the third quarter. Salem Investment Counselors Inc. now owns 633 shares of the company's stock valued at $34,000 after buying an additional 207 shares during the period. Westside Investment Management Inc. raised its position in shares of British American Tobacco by 100.0% during the third quarter. Westside Investment Management Inc. now owns 782 shares of the company's stock worth $41,000 after acquiring an additional 391 shares during the last quarter. Finally, City Holding Co. acquired a new position in shares of British American Tobacco in the third quarter worth approximately $42,000. 16.16% of the stock is currently owned by institutional investors and hedge funds.

British American Tobacco Price Performance

Shares of BTI opened at $59.87 on Friday. British American Tobacco p.l.c. has a 52-week low of $37.96 and a 52-week high of $63.22. The business's 50 day moving average price is $59.30 and its two-hundred day moving average price is $56.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57.

British American Tobacco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be given a dividend of $0.8349 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, December 29th.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Citigroup reissued a "buy" rating on shares of British American Tobacco in a research report on Friday, November 28th. Wall Street Zen raised shares of British American Tobacco from a "hold" rating to a "buy" rating in a research note on Saturday, March 7th. Weiss Ratings upgraded shares of British American Tobacco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of British American Tobacco in a research note on Friday, November 28th. Finally, Morgan Stanley restated an "underweight" rating on shares of British American Tobacco in a report on Wednesday, December 10th. Eight investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $51.00.

British American Tobacco Profile

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world's largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT's core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.

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