Townsend & Associates Inc Sells 12,176 Shares of British American Tobacco p.l.c. $BTI

Key Points

• Townsend & Associates Inc reduced its holdings in British American Tobacco by 21.2%, selling 12,176 shares and owning a total of 45,324 shares valued at approximately $2.37 million.
• Several institutional investors increased their stakes in British American Tobacco, with notable increases including Golden State Wealth Management's holdings rising by 100% during the first quarter.
• British American Tobacco's stock is currently rated as an average "Hold" with a price target of $51.00, following recent downgrades from multiple analysts.

Townsend & Associates Inc cut its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 21.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,324 shares of the company's stock after selling 12,176 shares during the quarter. Townsend & Associates Inc's holdings in British American Tobacco were worth $2,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in British American Tobacco by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 610 shares of the company's stock valued at $25,000 after purchasing an additional 305 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in British American Tobacco by 87.0% during the 1st quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company's stock valued at $25,000 after purchasing an additional 280 shares during the last quarter. Mather Group LLC. lifted its holdings in British American Tobacco by 292.7% during the 1st quarter. Mather Group LLC. now owns 644 shares of the company's stock valued at $27,000 after purchasing an additional 480 shares during the last quarter. Pandora Wealth Inc. acquired a new stake in British American Tobacco during the 1st quarter valued at $32,000. Finally, Bessemer Group Inc. lifted its holdings in British American Tobacco by 232.4% during the 1st quarter. Bessemer Group Inc. now owns 1,117 shares of the company's stock valued at $45,000 after purchasing an additional 781 shares during the last quarter. 16.16% of the stock is owned by institutional investors.

British American Tobacco Trading Up 0.9%

BTI opened at $51.59 on Monday. British American Tobacco p.l.c. has a twelve month low of $34.17 and a twelve month high of $59.29. The company has a 50-day simple moving average of $54.86 and a 200 day simple moving average of $49.56. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $106.01 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 3.64 and a beta of 0.42.

Analyst Ratings Changes

Several equities research analysts have issued reports on BTI shares. Royal Bank Of Canada downgraded British American Tobacco from a "sector perform" rating to an "underperform" rating in a report on Tuesday, September 2nd. Wall Street Zen downgraded British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Morgan Stanley reissued an "underweight" rating and set a $40.00 target price on shares of British American Tobacco in a report on Friday, August 15th. Argus raised shares of British American Tobacco from a "hold" rating to a "buy" rating and set a $62.00 target price for the company in a research report on Monday, September 8th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of British American Tobacco in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $51.00.

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.

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