Allianz Asset Management GmbH Buys New Position in British American Tobacco p.l.c. (BTI)

Allianz Asset Management GmbH bought a new stake in shares of British American Tobacco p.l.c. (NYSE:BTI) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 852,912 shares of the company’s stock, valued at approximately $53,265,000.

A number of other hedge funds have also added to or reduced their stakes in BTI. BB&T Investment Services Inc. grew its position in shares of British American Tobacco by 625.6% during the third quarter. BB&T Investment Services Inc. now owns 1,618 shares of the company’s stock worth $101,000 after acquiring an additional 1,395 shares during the last quarter. Delta Asset Management LLC TN grew its position in British American Tobacco by 908.6% in the 3rd quarter. Delta Asset Management LLC TN now owns 1,634 shares of the company’s stock valued at $102,000 after buying an additional 1,472 shares in the last quarter. D. Scott Neal Inc. bought a new position in British American Tobacco in the 3rd quarter valued at about $106,000. Manchester Capital Management LLC bought a new position in British American Tobacco in the 3rd quarter valued at about $113,000. Finally, Alpha Omega Wealth Management LLC bought a new position in British American Tobacco in the 3rd quarter valued at about $114,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

A number of equities analysts recently issued reports on BTI shares. Zacks Investment Research lowered shares of British American Tobacco from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of British American Tobacco in a research report on Wednesday, August 9th. Cowen upgraded shares of British American Tobacco from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 26th. Goldman Sachs Group upgraded shares of British American Tobacco from a “neutral” rating to a “buy” rating in a research report on Monday, October 9th. Finally, Jefferies Group set a $78.00 price target on shares of British American Tobacco and gave the company a “buy” rating in a report on Saturday, November 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $72.25.

Shares of British American Tobacco p.l.c. (NYSE BTI) opened at $67.84 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.87 and a debt-to-equity ratio of 1.91. British American Tobacco p.l.c. has a 1-year low of $54.58 and a 1-year high of $73.41.

The company also recently disclosed a None dividend, which will be paid on Tuesday, February 13th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.581 per share. This represents a yield of 1.73%. The ex-dividend date is Thursday, December 28th.

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About British American Tobacco

British American Tobacco p.l.c. is a tobacco and next generation products company. The Company’s tobacco product range includes cigarettes, fine cut (roll-your-own and make-your-own tobacco) and Swedish-style snus. Its segments include Asia-Pacific, Americas, Western Europe, and Eastern Europe, Middle East and Africa (EEMEA).

Institutional Ownership by Quarter for British American Tobacco (NYSE:BTI)

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