Summit Securities Group LLC Boosts Holdings in British American Tobacco p.l.c. $BTI

Key Points

• Summit Securities Group LLC increased its stake in British American Tobacco by 42.2%, holding a total of 29,150 shares valued at approximately $1.206 million.
• Recent analyses from various equity research firms have resulted in a consensus rating of "Moderate Buy" for British American Tobacco, alongside a price target of $40.00.
• The company has recently paid a dividend with a yield of 599.0%, but has also announced a decrease in its dividends, indicating financial adjustments.

Summit Securities Group LLC lifted its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 42.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 29,150 shares of the company's stock after purchasing an additional 8,650 shares during the period. Summit Securities Group LLC's holdings in British American Tobacco were worth $1,206,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Capital Research Global Investors grew its stake in shares of British American Tobacco by 0.3% during the fourth quarter. Capital Research Global Investors now owns 15,594,361 shares of the company's stock valued at $566,381,000 after buying an additional 47,439 shares during the last quarter. GQG Partners LLC grew its position in British American Tobacco by 59.8% during the 1st quarter. GQG Partners LLC now owns 9,598,465 shares of the company's stock worth $397,089,000 after acquiring an additional 3,590,916 shares during the last quarter. Northern Trust Corp increased its stake in British American Tobacco by 33.6% in the 4th quarter. Northern Trust Corp now owns 2,438,016 shares of the company's stock worth $88,549,000 after purchasing an additional 612,907 shares during the period. Envestnet Asset Management Inc. lifted its position in British American Tobacco by 3.0% in the first quarter. Envestnet Asset Management Inc. now owns 1,447,083 shares of the company's stock valued at $59,866,000 after purchasing an additional 42,531 shares during the last quarter. Finally, First Trust Advisors LP boosted 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 period. 16.16% of the stock is owned by institutional investors.

British American Tobacco Stock Up 2.7%

Shares of British American Tobacco stock traded up $1.5450 during trading on Wednesday, hitting $59.0150. The company's stock had a trading volume of 4,823,376 shares, compared to its average volume of 5,736,516. British American Tobacco p.l.c. has a 52 week low of $34.17 and a 52 week high of $59.15. The company has a market capitalization of $121.56 billion, a PE ratio of 12.12, a P/E/G ratio of 2.32 and a beta of 0.38. The company has a fifty day simple moving average of $51.75 and a two-hundred day simple moving average of $45.30. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.55 and a current ratio of 0.87.

British American Tobacco Cuts Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barclays reaffirmed an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Jefferies Financial Group began coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They issued a "buy" rating on the stock. Wall Street Zen lowered shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Bank of America assumed coverage on British American Tobacco in a research note on Wednesday, April 30th. They issued a "buy" rating on the stock. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $40.00 price objective on shares of British American Tobacco in a report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, British American Tobacco currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.

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.