WCM Investment Management LLC Purchases 2,303,743 Shares of British American Tobacco p.l.c. $BTI

Key Points

• WCM Investment Management LLC dramatically increased its stake in British American Tobacco, buying 2,303,743 additional shares in the first quarter and lifting its holdings to 2,362,818 shares worth about $137.7 million.
• Several other hedge funds also adjusted their positions in BTI, and institutional investors now own about 16.16% of the stock.
• Analyst sentiment is mixed but generally positive: BTI has a “Moderate Buy” consensus rating with a $51.00 price target, though one analyst recently downgraded the stock to hold.

WCM Investment Management LLC boosted its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 3,899.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,362,818 shares of the company's stock after purchasing an additional 2,303,743 shares during the period. WCM Investment Management LLC owned 0.09% of British American Tobacco worth $137,658,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. First Command Advisory Services Inc. increased its stake in shares of British American Tobacco by 1,386.7% in the fourth quarter. First Command Advisory Services Inc. now owns 446 shares of the company's stock valued at $25,000 after buying an additional 416 shares during the period. Glen Eagle Advisors LLC bought a new stake in British American Tobacco during the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC grew its holdings in British American Tobacco by 141.2% during the 4th quarter. Cornerstone Planning Group LLC now owns 591 shares of the company's stock worth $36,000 after acquiring an additional 346 shares during the last quarter. SHP Wealth Management acquired a new position in British American Tobacco in the 4th quarter valued at approximately $35,000. Finally, Cary Street Partners Financial LLC bought a new position in shares of British American Tobacco during the second quarter valued at $30,000. 16.16% of the stock is owned by institutional investors and hedge funds.

British American Tobacco Price Performance

British American Tobacco stock opened at $62.89 on Monday. British American Tobacco p.l.c. has a 52-week low of $49.88 and a 52-week high of $67.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87. The stock's 50 day moving average price is $61.88 and its two-hundred day moving average price is $59.84.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BTI shares. Wall Street Zen lowered British American Tobacco from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Citigroup reaffirmed a "buy" rating on shares of British American Tobacco in a research note on Thursday, May 14th. Weiss Ratings upgraded British American Tobacco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. Finally, Morgan Stanley reissued an "overweight" rating on shares of British American Tobacco in a research report on Monday, June 8th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, British American Tobacco presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.00.

British American Tobacco Company Profile

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world's largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT's core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.

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