Truist Financial Corp Boosts Holdings in British American Tobacco p.l.c. $BTI

Key Points

• Truist Financial Corp significantly increased its holdings in British American Tobacco by 128.7% during the second quarter, now owning 403,170 shares valued at approximately $19.1 million.
• Multiple hedge funds have also increased their stakes in British American Tobacco, with notable investments including a 292.7% boost by Mather Group LLC.
• British American Tobacco's stock rating varies among analysts, with a consensus rating of "Hold" and a price target averaging $51.00, reflecting mixed sentiments in the market.

Truist Financial Corp grew its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 128.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 403,170 shares of the company's stock after buying an additional 226,907 shares during the period. Truist Financial Corp's holdings in British American Tobacco were worth $19,082,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC grew its stake in shares of British American Tobacco by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 610 shares of the company's stock valued at $25,000 after buying an additional 305 shares during the period. Rosenberg Matthew Hamilton grew its stake 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 valued at $25,000 after buying an additional 280 shares during the period. Mather Group LLC. boosted its position in shares of British American Tobacco by 292.7% during the 1st quarter. Mather Group LLC. now owns 644 shares of the company's stock worth $27,000 after purchasing an additional 480 shares during the period. Pandora Wealth Inc. purchased a new position in shares of British American Tobacco during the 1st quarter worth approximately $32,000. Finally, CX Institutional purchased a new position in shares of British American Tobacco during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 16.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BTI shares. Wall Street Zen cut shares of British American Tobacco from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Argus raised shares of British American Tobacco from a "hold" rating to a "buy" rating and set a $62.00 price objective for the company in a research report on Monday, September 8th. Jefferies Financial Group started coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They set a "buy" rating for the company. Morgan Stanley reaffirmed an "underweight" rating and set a $40.00 price objective on shares of British American Tobacco in a research report on Friday, August 15th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of British American Tobacco in a report on Saturday, September 27th. Five 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's stock. According to MarketBeat, British American Tobacco presently has an average rating of "Hold" and a consensus price target of $51.00.

British American Tobacco Price Performance

British American Tobacco stock opened at $51.22 on Friday. British American Tobacco p.l.c. has a 52-week low of $34.17 and a 52-week high of $59.29. The company's 50 day moving average is $55.56 and its two-hundred day moving average is $48.73. The firm has a market cap of $105.37 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 3.63 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68.

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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