Raymond James Financial Inc. Has $61.65 Million Position in British American Tobacco p.l.c. $BTI

Key Points

• Raymond James Financial Inc. reduced its stake in British American Tobacco by 2.7%, selling 41,246 shares, and now holds 1,490,134 shares valued at approximately $61.6 million.
• Despite the stake reduction by Raymond James, other hedge funds such as Rosenberg Matthew Hamilton and Golden State Wealth Management have significantly increased their holdings in British American Tobacco during the same period.
• Several analysts have provided mixed ratings on the stock, with a consensus rating of "Moderate Buy" and a price target around $40.00, while Morgan Stanley maintains an "underweight" rating.

Raymond James Financial Inc. decreased its position in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,490,134 shares of the company's stock after selling 41,246 shares during the period. Raymond James Financial Inc. owned about 0.07% of British American Tobacco worth $61,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. First Trust Advisors LP grew its stake in shares of British American Tobacco by 3.1% during the fourth quarter. First Trust Advisors LP now owns 1,293,782 shares of the company's stock valued at $46,990,000 after purchasing an additional 39,035 shares during the last quarter. Capital World Investors grew its stake in shares of British American Tobacco by 1.3% during the fourth quarter. Capital World Investors now owns 66,788 shares of the company's stock valued at $2,408,000 after purchasing an additional 853 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of British American Tobacco by 3.7% during the fourth quarter. OneDigital Investment Advisors LLC now owns 9,191 shares of the company's stock valued at $334,000 after purchasing an additional 329 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of British American Tobacco by 14.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 14,710 shares of the company's stock valued at $534,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of British American Tobacco by 33.6% during the fourth quarter. Northern Trust Corp now owns 2,438,016 shares of the company's stock valued at $88,549,000 after purchasing an additional 612,907 shares during the last quarter. Institutional investors and hedge funds own 16.16% of the company's stock.

British American Tobacco Stock Down 0.7%

Shares of NYSE:BTI traded down $0.42 during midday trading on Tuesday, reaching $57.38. 5,427,839 shares of the company were exchanged, compared to its average volume of 4,961,343. British American Tobacco p.l.c. has a fifty-two week low of $34.17 and a fifty-two week high of $59.29. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $52.71 and a two-hundred day simple moving average of $45.91. The firm has a market cap of $118.18 billion, a PE ratio of 11.78, a P/E/G ratio of 2.32 and a beta of 0.38.

British American Tobacco Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th were paid a $0.7391 dividend. This represents a yield of 599.0%. The ex-dividend date was Friday, June 27th. British American Tobacco's payout ratio is presently 64.68%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BTI. Morgan Stanley reissued an "underweight" rating and set a $40.00 price target on shares of British American Tobacco in a research note on Friday, August 15th. Barclays reissued an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Wall Street Zen cut shares of British American Tobacco from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Jefferies Financial Group started coverage on shares of British American Tobacco in a research note on Wednesday, July 9th. They issued a "buy" rating on the stock. Finally, Bank of America started coverage on shares of British American Tobacco in a research note on Wednesday, April 30th. They issued a "buy" rating on the stock. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

British American Tobacco Company Profile

British American Tobacco p.l.c. engages in the provision of tobacco and nicotine products to consumers worldwide. It also offers vapour, heated, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company offers its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Camel, Natural American Spirit, Newport, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, State Express 555 and Shuang Xi brands.