WT Asset Management Ltd Acquires Shares of 799,700 British American Tobacco p.l.c. $BTI

Key Points

• WT Asset Management Ltd has acquired 799,700 shares of British American Tobacco p.l.c. (NYSE:BTI), valued at approximately $37.85 million, making it the company's 12th largest holding.
• Other institutional investors, including Orbis Allan Gray Ltd and GQG Partners LLC, have also significantly increased their stakes in British American Tobacco during the recent quarter.
• Currently, British American Tobacco's stock holds an average rating of "Hold" with various brokerages providing differing ratings, illustrating a divided outlook among analysts.

WT Asset Management Ltd acquired a new stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 799,700 shares of the company's stock, valued at approximately $37,850,000. British American Tobacco accounts for approximately 2.7% of WT Asset Management Ltd's holdings, making the stock its 12th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Orbis Allan Gray Ltd grew its stake in shares of British American Tobacco by 20.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 12,021,231 shares of the company's stock worth $497,318,000 after purchasing an additional 2,040,011 shares during the period. GQG Partners LLC grew its stake in shares of British American Tobacco by 59.8% during the 1st quarter. GQG Partners LLC now owns 9,598,465 shares of the company's stock worth $397,089,000 after purchasing an additional 3,590,916 shares during the period. Newport Trust Company LLC grew its stake in shares of British American Tobacco by 1.1% during the 1st quarter. Newport Trust Company LLC now owns 2,774,460 shares of the company's stock worth $114,779,000 after purchasing an additional 31,205 shares during the period. Northern Trust Corp grew its stake in shares of British American Tobacco by 1.5% during the 1st quarter. Northern Trust Corp now owns 2,473,942 shares of the company's stock worth $102,347,000 after purchasing an additional 35,926 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in British American Tobacco by 3.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,447,083 shares of the company's stock valued at $59,866,000 after acquiring an additional 42,531 shares during the last quarter. 16.16% of the stock is owned by institutional investors and hedge funds.

British American Tobacco Stock Performance

NYSE:BTI opened at $51.22 on Friday. The firm has a 50 day simple moving average of $55.56 and a 200-day simple moving average of $48.73. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.87 and a quick ratio of 0.55. The firm has a market cap of $105.37 billion, a PE ratio of 10.52, a P/E/G ratio of 3.63 and a beta of 0.42. British American Tobacco p.l.c. has a 1-year low of $34.17 and a 1-year high of $59.29.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BTI. Royal Bank Of Canada cut shares of British American Tobacco from a "sector perform" rating to an "underperform" rating in a research note on Tuesday, September 2nd. Argus raised shares of British American Tobacco from a "hold" rating to a "buy" rating and set a $62.00 price objective on the stock in a research note on Monday, September 8th. Morgan Stanley reissued an "underweight" rating and issued a $40.00 price objective on shares of British American Tobacco in a research note on Friday, August 15th. Barclays reissued an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Finally, Jefferies Financial Group began coverage on shares of British American Tobacco in a research note on Wednesday, July 9th. They issued a "buy" rating on the stock. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, British American Tobacco currently has an average rating of "Hold" and an average target price of $51.00.

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.

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