Teachers Retirement System of The State of Kentucky Raises Stake in British American Tobacco p.l.c. (NYSE:BTI)

Teachers Retirement System of The State of Kentucky lifted its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 27.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 555,030 shares of the company's stock after purchasing an additional 121,100 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in British American Tobacco were worth $22,961,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Avenue Securities LLC boosted its stake in British American Tobacco by 0.7% during the 1st quarter. Park Avenue Securities LLC now owns 33,866 shares of the company's stock worth $1,401,000 after purchasing an additional 244 shares during the period. Applied Capital LLC FL raised its holdings in shares of 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 last quarter. Elevation Point Wealth Partners LLC boosted its stake in shares of British American Tobacco by 1.6% during the first quarter. Elevation Point Wealth Partners LLC now owns 16,715 shares of the company's stock worth $691,000 after buying an additional 258 shares during the period. Keystone Financial Group grew its holdings in shares of British American Tobacco by 1.5% during the fourth quarter. Keystone Financial Group now owns 17,695 shares of the company's stock worth $643,000 after buying an additional 267 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its position in British American Tobacco by 78.5% in the 1st quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock valued at $26,000 after acquiring an additional 278 shares during the period. Hedge funds and other institutional investors own 16.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BTI. 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. Bank of America assumed coverage on shares of British American Tobacco in a report on Wednesday, April 30th. They issued a "buy" rating on the stock. Wall Street Zen upgraded British American Tobacco from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Barclays reiterated an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $33.00.

British American Tobacco Trading Up 0.9%

Shares of NYSE BTI traded up $0.46 during midday trading on Tuesday, reaching $52.26. 4,097,960 shares of the stock were exchanged, compared to its average volume of 5,339,169. The stock has a 50 day moving average price of $47.17 and a 200-day moving average price of $42.61. The company has a current ratio of 0.76, a quick ratio of 0.52 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $107.80 billion, a P/E ratio of 10.74, a P/E/G ratio of 4.75 and a beta of 0.33. British American Tobacco p.l.c. has a 52-week low of $33.18 and a 52-week high of $52.89.

British American Tobacco Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th will be paid a $0.7391 dividend. The ex-dividend date is Friday, June 27th. This represents a yield of 5.99%. British American Tobacco's payout ratio is currently 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.