59,176 Shares in British American Tobacco p.l.c. $BTI Bought by Cherokee Insurance Co

Cherokee Insurance Co bought a new stake in British American Tobacco p.l.c. (NYSE:BTI) during the second quarter, HoldingsChannel reports. The fund bought 59,176 shares of the company’s stock, valued at approximately $2,801,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. ABC Arbitrage SA raised its holdings in shares of British American Tobacco by 87.8% during the 2nd quarter. ABC Arbitrage SA now owns 862,252 shares of the company’s stock valued at $40,810,000 after buying an additional 403,115 shares in the last quarter. PNC Financial Services Group Inc. grew its position in British American Tobacco by 103.0% during the second quarter. PNC Financial Services Group Inc. now owns 92,696 shares of the company’s stock valued at $4,387,000 after acquiring an additional 47,034 shares during the last quarter. Wealth Alliance LLC raised its stake in shares of British American Tobacco by 391.0% during the second quarter. Wealth Alliance LLC now owns 29,212 shares of the company’s stock worth $1,383,000 after acquiring an additional 23,262 shares in the last quarter. 49 Wealth Management LLC lifted its holdings in shares of British American Tobacco by 27.2% in the 2nd quarter. 49 Wealth Management LLC now owns 20,346 shares of the company’s stock worth $963,000 after acquiring an additional 4,347 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new stake in shares of British American Tobacco in the 2nd quarter valued at $1,548,000. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BTI shares. Argus upgraded shares of 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. Morgan Stanley restated an “underweight” rating and issued a $40.00 price objective on shares of British American Tobacco in a research report on Friday, August 15th. Wall Street Zen lowered shares of British American Tobacco from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Royal Bank Of Canada downgraded British American Tobacco from a “sector perform” rating to an “underperform” rating in a report on Tuesday, September 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of British American Tobacco in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.00.

British American Tobacco Price Performance

BTI stock opened at $55.81 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.87 and a quick ratio of 0.55. British American Tobacco p.l.c. has a 1 year low of $34.82 and a 1 year high of $59.29. The firm has a 50-day moving average of $53.24 and a 200 day moving average of $51.01.

British American Tobacco Company 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.