Royal Bank of Canada Has $141.12 Million Stock Position in British American Tobacco p.l.c. $BTI

Key Points

• Royal Bank of Canada increased its British American Tobacco holdings by 18.1% in the first quarter, adding 369,993 shares to own 2.41 million shares valued at approximately $141.12 million.
• Other institutional investors also expanded their BTI positions, while institutional ownership reached 16.16% of the company’s outstanding stock.
• BTI was trading at $61.68 after a 2.2% decline. Analysts maintain a consensus “Moderate Buy” rating, though the average price target of $51.00 is below the current share price.

Royal Bank of Canada grew its holdings in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 18.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,413,551 shares of the company's stock after acquiring an additional 369,993 shares during the quarter. Royal Bank of Canada owned 0.12% of British American Tobacco worth $141,120,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BTI. Wealth High Governance Capital Ltda acquired a new position in British American Tobacco during the fourth quarter worth $6,911,000. Prime Capital Investment Advisors LLC grew its stake in shares of British American Tobacco by 284.8% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 26,274 shares of the company's stock valued at $1,488,000 after buying an additional 19,446 shares in the last quarter. Assetmark Inc. raised its holdings in shares of British American Tobacco by 4.3% in the 4th quarter. Assetmark Inc. now owns 557,887 shares of the company's stock valued at $31,588,000 after buying an additional 23,141 shares during the period. M&T Bank Corp raised its holdings in shares of British American Tobacco by 74.6% in the 4th quarter. M&T Bank Corp now owns 102,703 shares of the company's stock valued at $5,815,000 after buying an additional 43,886 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in British American Tobacco by 1,039.9% during the 1st quarter. Bessemer Group Inc. now owns 27,130 shares of the company's stock valued at $1,586,000 after acquiring an additional 24,750 shares during the period. 16.16% of the stock is owned by institutional investors.

British American Tobacco Trading Down 2.2%

NYSE:BTI opened at $61.68 on Friday. British American Tobacco p.l.c. has a 12 month low of $49.88 and a 12 month high of $67.30. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57. The business's fifty day moving average price is $61.28 and its 200 day moving average price is $60.24.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BTI. Weiss Ratings raised British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, June 3rd. Morgan Stanley reissued an "overweight" rating on shares of British American Tobacco in a research note on Monday, June 8th. Citigroup restated a "buy" rating on shares of British American Tobacco in a report on Thursday, May 14th. BTIG Research started coverage on shares of British American Tobacco in a research note on Tuesday, July 21st. They set a "buy" rating on the stock. Finally, Wall Street Zen cut shares of British American Tobacco from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, British American Tobacco presently has a consensus rating of "Moderate Buy" and an average target price 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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