Townsquare Capital LLC Purchases 10,943 Shares of British American Tobacco p.l.c. (NYSE:BTI)

Key Points

• Townsquare Capital LLC increased its holdings in British American Tobacco by 33.9% in the first quarter, owning 43,257 shares valued at approximately $1.79 million.
• Several other hedge funds also increased their stakes in British American Tobacco, with CenterBook Partners LP growing by 135.3% and Charles Schwab Investment Management increasing by 16.8% during the same period.
• The company recently cut its dividend payout ratio to 60.57%, with a dividend yield reported at 599.0% for stockholders of record as of June 30.

Townsquare Capital LLC lifted its stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 33.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,257 shares of the company's stock after purchasing an additional 10,943 shares during the quarter. Townsquare Capital LLC's holdings in British American Tobacco were worth $1,790,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Avenue Securities LLC increased its stake in British American Tobacco by 0.7% in the 1st quarter. Park Avenue Securities LLC now owns 33,866 shares of the company's stock worth $1,401,000 after acquiring an additional 244 shares during the last quarter. Applied Capital LLC FL boosted its holdings in shares of British American Tobacco by 1.1% in the 1st quarter. Applied Capital LLC FL now owns 23,284 shares of the company's stock worth $963,000 after purchasing an additional 257 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its holdings in shares of British American Tobacco by 1.6% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 16,715 shares of the company's stock worth $691,000 after purchasing an additional 258 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of British American Tobacco by 78.5% in the 1st quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock worth $26,000 after purchasing an additional 278 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in shares of British American Tobacco by 87.0% in the 1st quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company's stock worth $25,000 after purchasing an additional 280 shares in the last quarter. 16.16% of the stock is currently owned by institutional investors.

British American Tobacco Trading Down 0.5%

NYSE BTI traded down $0.28 on Friday, hitting $57.14. The company's stock had a trading volume of 4,005,394 shares, compared to its average volume of 5,269,625. British American Tobacco p.l.c. has a 52-week low of $34.17 and a 52-week high of $58.46. 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 company's 50-day simple moving average is $51.36 and its 200 day simple moving average is $45.05. The firm has a market cap of $117.69 billion, a P/E ratio of 11.73, a PEG ratio of 2.24 and a beta of 0.38.

British American Tobacco Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th were issued a $0.7391 dividend. The ex-dividend date was Friday, June 27th. This represents a yield of 599.0%. British American Tobacco's dividend payout ratio (DPR) is 64.68%.

Analysts Set New Price Targets

BTI has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on British American Tobacco in a report on Wednesday, July 9th. They issued a "buy" rating for the company. Morgan Stanley reiterated an "underweight" rating and issued a $40.00 price objective on shares of British American Tobacco in a report on Friday. Wall Street Zen cut British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Barclays restated an "overweight" rating on shares of British American Tobacco in a report on Friday, June 13th. Finally, Bank of America started coverage on British American Tobacco in a report on Wednesday, April 30th. They set a "buy" rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, British American Tobacco presently has an average rating of "Moderate Buy" and a consensus target price of $40.00.

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.