Sei Investments Co. Acquires 559,858 Shares of British American Tobacco p.l.c. $BTI

Key Points

• Sei Investments Co. increased its stake in British American Tobacco by 75.3% in the first quarter, buying 559,858 additional shares and bringing its total to 1,303,646 shares worth about $76.2 million.
• Other institutional investors also made small increases in BTI, and overall hedge funds and other institutions own 16.16% of the stock.
• Analyst sentiment is mostly positive: BTI has a Moderate Buy consensus rating with a $51.00 average price target, while the shares recently traded at $60.89.

Sei Investments Co. raised its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 75.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,303,646 shares of the company's stock after purchasing an additional 559,858 shares during the period. Sei Investments Co.'s holdings in British American Tobacco were worth $76,223,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BTI. AlphaCore Capital LLC grew its stake in shares of British American Tobacco by 1.6% in the 4th quarter. AlphaCore Capital LLC now owns 10,849 shares of the company's stock worth $614,000 after buying an additional 170 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in British American Tobacco by 3.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 4,996 shares of the company's stock valued at $283,000 after buying an additional 181 shares during the last quarter. NewEdge Wealth LLC raised its stake in British American Tobacco by 0.3% during the fourth quarter. NewEdge Wealth LLC now owns 58,696 shares of the company's stock valued at $3,323,000 after buying an additional 187 shares during the last quarter. Renasant Bank boosted its holdings in British American Tobacco by 4.8% in the first quarter. Renasant Bank now owns 4,152 shares of the company's stock worth $243,000 after acquiring an additional 192 shares in the last quarter. Finally, Intrua Financial LLC increased its holdings in shares of British American Tobacco by 3.8% during the first quarter. Intrua Financial LLC now owns 5,306 shares of the company's stock valued at $310,000 after acquiring an additional 196 shares in the last quarter. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. BTIG Research assumed coverage on shares of British American Tobacco in a research report on Tuesday. They set a "buy" rating on the stock. Wall Street Zen cut shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Citigroup reiterated a "buy" rating on shares of British American Tobacco in a research note on Thursday, May 14th. Morgan Stanley reissued an "overweight" rating on shares of British American Tobacco in a research report on Monday, June 8th. Finally, Weiss Ratings upgraded shares of British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $51.00.

British American Tobacco Trading Up 1.8%

Shares of British American Tobacco stock opened at $60.89 on Friday. British American Tobacco p.l.c. has a twelve month low of $49.88 and a twelve month high of $67.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87. The company's 50 day moving average is $61.60 and its 200 day moving average is $59.98.

About British American Tobacco

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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