ABC Arbitrage SA reduced its position in shares of British American Tobacco p.l.c. (NYSE:BTI – Free Report) by 57.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 390,728 shares of the company’s stock after selling 527,925 shares during the period. British American Tobacco comprises approximately 3.0% of ABC Arbitrage SA’s portfolio, making the stock its 10th largest position. ABC Arbitrage SA’s holdings in British American Tobacco were worth $22,846,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of BTI. First Command Advisory Services Inc. lifted its holdings in British American Tobacco by 1,386.7% during the 4th quarter. First Command Advisory Services Inc. now owns 446 shares of the company’s stock worth $25,000 after buying an additional 416 shares during the last quarter. Glen Eagle Advisors LLC purchased a new position in British American Tobacco in the fourth quarter valued at approximately $26,000. Cary Street Partners Financial LLC acquired a new stake in British American Tobacco during the second quarter worth approximately $30,000. SHP Wealth Management purchased a new stake in shares of British American Tobacco during the 4th quarter worth approximately $35,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of British American Tobacco by 141.2% in the 4th quarter. Cornerstone Planning Group LLC now owns 591 shares of the company’s stock valued at $36,000 after buying an additional 346 shares in the last quarter. 16.16% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on BTI shares. Morgan Stanley restated an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Weiss Ratings upgraded shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. Finally, Wall Street Zen cut shares of British American Tobacco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.00.
British American Tobacco Trading Down 1.7%
Shares of NYSE:BTI opened at $58.97 on Tuesday. British American Tobacco p.l.c. has a fifty-two week low of $49.88 and a fifty-two week high of $67.30. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. The firm’s 50-day simple moving average is $61.73 and its 200-day simple moving average is $59.74.
About British American Tobacco
British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world’s largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.
BAT’s core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.
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