Viking Fund Management LLC Acquires 60,000 Shares of British American Tobacco p.l.c. $BTI

Key Points

• Viking Fund Management increased its British American Tobacco stake by 26.1% in the third quarter, purchasing 60,000 additional shares for a total of 290,000 shares valued at approximately $15.8 million.
• Several other institutional investors also added to their BTI positions, with hedge funds and institutions collectively owning 16.16% of the company’s stock.
• BTI shares opened at $56.61, while analysts maintain a “Moderate Buy” consensus rating with a $68.10 average price target, despite the company’s latest earnings and revenue falling short of estimates.

Viking Fund Management LLC grew its holdings in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 26.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 290,000 shares of the company's stock after buying an additional 60,000 shares during the period. British American Tobacco accounts for approximately 1.3% of Viking Fund Management LLC's portfolio, making the stock its 23rd largest position. Viking Fund Management LLC's holdings in British American Tobacco were worth $15,776,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BTI. Mather Group LLC. increased its holdings in shares of British American Tobacco by 22.9% in the third quarter. Mather Group LLC. now owns 4,593 shares of the company's stock valued at $250,000 after purchasing an additional 857 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of British American Tobacco by 3.9% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 28,177 shares of the company's stock worth $1,533,000 after purchasing an additional 1,066 shares during the period. Sanders Morris Harris LLC purchased a new position in British American Tobacco in the 3rd quarter valued at $1,134,000. B. Riley Wealth Advisors Inc. increased its stake in British American Tobacco by 38.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 5,883 shares of the company's stock valued at $320,000 after buying an additional 1,634 shares during the period. Finally, Affinity Capital Advisors LLC increased its stake in British American Tobacco by 26.7% in the 3rd quarter. Affinity Capital Advisors LLC now owns 6,239 shares of the company's stock valued at $346,000 after buying an additional 1,315 shares during the period. Hedge funds and other institutional investors own 16.16% of the company's stock.

British American Tobacco Stock Up 1.7%

NYSE BTI opened at $56.61 on Thursday. The business has a 50 day moving average price of $55.80 and a 200 day moving average price of $58.86. British American Tobacco p.l.c. has a 1-year low of $49.88 and a 1-year high of $67.30. The company has a quick ratio of 0.50, a current ratio of 0.84 and a debt-to-equity ratio of 0.64.

British American Tobacco (NYSE:BTI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $1.11 EPS for the quarter, missing analysts' consensus estimates of $2.21 by ($1.10). The business had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $16.42 billion. As a group, analysts anticipate that British American Tobacco p.l.c. will post 4.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BTI shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of British American Tobacco in a research report on Thursday, October 1st. Weiss Ratings reissued a "buy (b)" rating on shares of British American Tobacco in a report on Monday, August 31st. SBG Securities raised shares of British American Tobacco to a "buy" rating in a report on Friday, August 7th. Royal Bank Of Canada restated a "sell" rating on shares of British American Tobacco in a research report on Friday, September 11th. Finally, Wall Street Zen cut shares of British American Tobacco from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $68.10.

British American Tobacco Company Profile

British American Tobacco p.l.c. NYSE: BTI is a multinational consumer goods company focused on nicotine and tobacco products. Its portfolio includes traditional cigarettes, heated tobacco products, vapor products and modern oral nicotine products, including nicotine pouches. The company markets products under brands such as Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans and Vuse, with additional brands varying by market.

Founded in 1902 through the combination of the Imperial Tobacco Company and the American Tobacco Company, British American Tobacco has developed into an international business serving markets across the Americas, Europe, Africa, the Middle East and Asia-Pacific.

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