Midwest Trust Co Makes New $8.24 Million Investment in British American Tobacco p.l.c. $BTI

Midwest Trust Co bought a new stake in British American Tobacco p.l.c. (NYSE:BTI) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 174,033 shares of the company’s stock, valued at approximately $8,237,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in British American Tobacco by 41.9% in the 1st quarter. Bank of New York Mellon Corp now owns 193,292 shares of the company’s stock valued at $7,996,000 after buying an additional 57,084 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of British American Tobacco by 7.8% in the first quarter. Brown Advisory Inc. now owns 15,151 shares of the company’s stock valued at $627,000 after acquiring an additional 1,093 shares in the last quarter. Cerity Partners LLC increased its position in shares of British American Tobacco by 8.2% during the first quarter. Cerity Partners LLC now owns 53,537 shares of the company’s stock valued at $2,215,000 after acquiring an additional 4,039 shares during the last quarter. Ballentine Partners LLC lifted its holdings in British American Tobacco by 3.8% during the first quarter. Ballentine Partners LLC now owns 12,298 shares of the company’s stock worth $509,000 after acquiring an additional 445 shares during the period. Finally, Bleakley Financial Group LLC boosted its position in British American Tobacco by 24.0% in the first quarter. Bleakley Financial Group LLC now owns 36,693 shares of the company’s stock worth $1,518,000 after purchasing an additional 7,111 shares during the last quarter. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

British American Tobacco Trading Up 0.6%

BTI opened at $54.54 on Monday. The firm has a 50-day moving average price of $53.24 and a 200-day moving average price of $50.79. British American Tobacco p.l.c. has a twelve month low of $34.82 and a twelve month high of $59.29. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $40.00 target price on shares of British American Tobacco in a research report on Friday, August 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of British American Tobacco in a research report on Wednesday, October 8th. Wall Street Zen cut shares of British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Argus upgraded shares of British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Monday, September 8th. Finally, Royal Bank Of Canada downgraded British American Tobacco from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, September 2nd. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, British American Tobacco has a consensus rating of “Hold” and a consensus price target 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.