Sanders Morris Harris LLC Makes New Investment in British American Tobacco p.l.c. $BTI

Key Points

• Sanders Morris Harris LLC initiated a position in British American Tobacco during the third quarter, purchasing 20,723 shares valued at approximately $1.13 million. Other institutional investors also increased their holdings, with institutions collectively owning 16.16% of BTI.
• BTI shares recently traded at $56.61, within a 52-week range of $49.88 to $67.30. The company reported quarterly earnings of $1.11 per share and revenue of $8.10 billion, both below analyst expectations.
• Analyst sentiment remains generally positive: 12 analysts rate BTI a Buy, two rate it Hold, and one rates it Sell. The stock carries a consensus “Moderate Buy” rating and an average price target of $68.10.

Sanders Morris Harris LLC purchased a new position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 20,723 shares of the company's stock, valued at approximately $1,134,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BTI. B. Riley Wealth Advisors Inc. raised its holdings in shares of British American Tobacco by 38.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 5,883 shares of the company's stock valued at $320,000 after acquiring an additional 1,634 shares during the period. Affinity Capital Advisors LLC lifted its stake in British American Tobacco by 26.7% in the 3rd quarter. Affinity Capital Advisors LLC now owns 6,239 shares of the company's stock worth $346,000 after acquiring an additional 1,315 shares in the last quarter. Euro Pacific Asset Management LLC grew its stake in British American Tobacco by 11.2% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 721,947 shares of the company's stock valued at $40,279,000 after acquiring an additional 72,901 shares in the last quarter. Perpetual Ltd increased its holdings in shares of British American Tobacco by 8.4% in the 3rd quarter. Perpetual Ltd now owns 33,041 shares of the company's stock valued at $1,797,000 after purchasing an additional 2,558 shares during the period. Finally, HF Advisory Group LLC boosted its holdings in shares of British American Tobacco by 9.4% during the third quarter. HF Advisory Group LLC now owns 60,282 shares of the company's stock worth $3,279,000 after purchasing an additional 5,171 shares during the period. Institutional investors and hedge funds own 16.16% of the company's stock.

British American Tobacco Price Performance

Shares of NYSE BTI traded up $0.96 during trading hours on Wednesday, hitting $56.61. 4,328,890 shares of the stock were exchanged, compared to its average volume of 4,556,104. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.84 and a quick ratio of 0.50. British American Tobacco p.l.c. has a one year low of $49.88 and a one year high of $67.30. The company's 50 day moving average is $55.80 and its 200 day moving average is $58.86.

British American Tobacco (NYSE:BTI - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($1.10). The company had revenue of $8.10 billion during the quarter, compared to analysts' expectations of $16.42 billion. On average, equities research analysts anticipate that British American Tobacco p.l.c. will post 4.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on BTI. Wall Street Zen lowered shares of British American Tobacco from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Morningstar raised British American Tobacco to a "buy" rating in a research note on Thursday, September 10th. Jefferies Financial Group restated a "buy" rating on shares of British American Tobacco in a report on Wednesday, September 30th. SBG Securities raised shares of British American Tobacco to a "buy" rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada reiterated a "sell" rating on shares of British American Tobacco in a research note on Friday, September 11th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $68.10.

British American Tobacco Company Profile

British American Tobacco p.l.c. NYSE: BTI is a multinational consumer goods company focused on nicotine and tobacco products. Its portfolio includes traditional cigarettes, heated tobacco products, vapor products and modern oral nicotine products, including nicotine pouches. The company markets products under brands such as Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans and Vuse, with additional brands varying by market.

Founded in 1902 through the combination of the Imperial Tobacco Company and the American Tobacco Company, British American Tobacco has developed into an international business serving markets across the Americas, Europe, Africa, the Middle East and Asia-Pacific.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.