British American Tobacco p.l.c. $BTI Stake Cut by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. significantly reduced its stake in British American Tobacco, cutting its holdings by 77.2% to 23,113 shares, valued at approximately $956,000.
• Other institutional investors are actively adjusting their stakes; notable increases include Lockheed Martin Investment Management Co. raising its position by 27.7% to 141,000 shares, worth $5,833,000.
• Analysts have mixed ratings on British American Tobacco, with four analysts giving it a Buy rating and a consensus price target of $40.00.

Russell Investments Group Ltd. decreased its holdings in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 77.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 23,113 shares of the company's stock after selling 78,429 shares during the period. Russell Investments Group Ltd.'s holdings in British American Tobacco were worth $956,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Park Avenue Securities LLC raised its holdings in British American Tobacco by 0.7% in the first quarter. Park Avenue Securities LLC now owns 33,866 shares of the company's stock valued at $1,401,000 after buying an additional 244 shares during the period. Applied Capital LLC FL raised its holdings in British American Tobacco by 1.1% in the first quarter. Applied Capital LLC FL now owns 23,284 shares of the company's stock valued at $963,000 after buying an additional 257 shares during the period. Elevation Point Wealth Partners LLC raised its holdings in British American Tobacco by 1.6% in the first quarter. Elevation Point Wealth Partners LLC now owns 16,715 shares of the company's stock valued at $691,000 after buying an additional 258 shares during the period. Financial Management Professionals Inc. raised its holdings in British American Tobacco by 78.5% in the first quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock valued at $26,000 after buying an additional 278 shares during the period. Finally, Rosenberg Matthew Hamilton raised its holdings in British American Tobacco by 87.0% in the first quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company's stock valued at $25,000 after buying an additional 280 shares during the period. Hedge funds and other institutional investors own 16.16% of the company's stock.

Analysts Set New Price Targets

BTI has been the subject of several recent research reports. Barclays reaffirmed an "overweight" rating on shares of British American Tobacco in a research report on Friday, June 13th. Morgan Stanley reaffirmed an "underweight" rating and issued a $40.00 price objective on shares of British American Tobacco in a research report on Friday, August 15th. Jefferies Financial Group initiated coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They issued a "buy" rating for the company. Wall Street Zen downgraded shares of British American Tobacco from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Royal Bank Of Canada downgraded shares of British American Tobacco from a "sector perform" rating to an "underperform" rating in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $40.00.

British American Tobacco Stock Performance

BTI traded down $0.21 during trading hours on Wednesday, hitting $55.04. 5,980,854 shares of the stock were exchanged, compared to its average volume of 5,686,193. The stock has a 50-day simple moving average of $53.45 and a 200-day simple moving average of $46.44. British American Tobacco p.l.c. has a 12 month low of $34.17 and a 12 month high of $59.29. The stock has a market cap of $113.36 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 3.91 and a beta of 0.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.87 and a quick ratio of 0.55.

About British American Tobacco

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.