British American Tobacco p.l.c. $BTI Shares Purchased by Summit Securities Group LLC

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 increased its stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 42.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,150 shares of the company's stock after buying an additional 8,650 shares during the period. Summit Securities Group LLC's holdings in British American Tobacco were worth $1,206,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BTI. Lockheed Martin Investment Management Co. grew its holdings in British American Tobacco by 27.7% in the first quarter. Lockheed Martin Investment Management Co. now owns 141,000 shares of the company's stock worth $5,833,000 after purchasing an additional 30,600 shares during the period. BNP Paribas Financial Markets raised its stake in British American Tobacco by 21.8% during the 4th quarter. BNP Paribas Financial Markets now owns 82,029 shares of the company's stock valued at $2,979,000 after buying an additional 14,655 shares during the last quarter. Consolidated Portfolio Review Corp purchased a new position in shares of British American Tobacco in the 1st quarter worth $375,000. Atria Wealth Solutions Inc. grew its holdings in shares of British American Tobacco by 28.8% in the first quarter. Atria Wealth Solutions Inc. now owns 25,726 shares of the company's stock worth $1,074,000 after acquiring an additional 5,745 shares during the period. Finally, Todd Asset Management LLC increased its position in British American Tobacco by 26.9% during the first quarter. Todd Asset Management LLC now owns 741,893 shares of the company's stock valued at $30,692,000 after acquiring an additional 157,251 shares during the last quarter. 16.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

British American Tobacco Trading Down 0.6%

Shares of NYSE BTI traded down $0.3350 during trading hours on Friday, reaching $58.9350. The stock had a trading volume of 3,304,022 shares, compared to its average volume of 5,711,654. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68. The firm has a market cap of $121.39 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 2.37 and a beta of 0.38. The business's fifty day moving average price is $52.17 and its two-hundred day moving average price is $45.53. British American Tobacco p.l.c. has a 52-week low of $34.17 and a 52-week high of $59.29.

British American Tobacco Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, June 30th were given a dividend of $0.7391 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a dividend yield of 599.0%. British American Tobacco's dividend payout ratio is presently 60.57%.

British American Tobacco Profile

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.