Access Investment Management LLC Invests $591,000 in British American Tobacco p.l.c. $BTI

Access Investment Management LLC acquired a new position in shares of British American Tobacco p.l.c. (NYSE:BTI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,495 shares of the company’s stock, valued at approximately $591,000.

Several other hedge funds have also recently bought and sold shares of the business. GQG Partners LLC boosted its holdings 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 buying an additional 3,590,916 shares during the period. Orbis Allan Gray Ltd lifted its position in shares of British American Tobacco by 20.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 12,021,231 shares of the company’s stock worth $497,318,000 after acquiring an additional 2,040,011 shares during the period. Envestnet Asset Management Inc. increased its position in shares of British American Tobacco by 93.0% during the second quarter. Envestnet Asset Management Inc. now owns 2,792,258 shares of the company’s stock valued at $132,158,000 after purchasing an additional 1,345,175 shares during the period. WT Asset Management Ltd acquired a new position in shares of British American Tobacco in the 2nd quarter worth approximately $37,850,000. Finally, Kingstone Capital Partners Texas LLC bought a new position in British American Tobacco during the 2nd quarter valued at about $29,568,000. 16.16% of the stock is owned by institutional investors and hedge funds.

British American Tobacco Price Performance

NYSE BTI opened at $51.25 on Monday. 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 business has a fifty day simple moving average of $53.58 and a 200 day simple moving average of $50.39. British American Tobacco p.l.c. has a 12 month low of $34.24 and a 12 month high of $59.29.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BTI shares. Argus upgraded British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Monday, September 8th. Jefferies Financial Group began coverage on British American Tobacco in a research note on Wednesday, July 9th. They issued a “buy” rating on the stock. Royal Bank Of Canada lowered shares of British American Tobacco from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, September 2nd. Wall Street Zen downgraded shares of British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $40.00 price target on shares of British American Tobacco in a research report on Friday, August 15th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $51.00.

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.