CNB Bank Trims Stock Position in British American Tobacco p.l.c. (NYSE:BTI)

CNB Bank lessened its stake in British American Tobacco p.l.c. (NYSE:BTI) by 12.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,757 shares of the company’s stock after selling 1,096 shares during the period. CNB Bank’s holdings in British American Tobacco were worth $282,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers grew its position in British American Tobacco by 41.8% during the second quarter. Rhumbline Advisers now owns 5,058 shares of the company’s stock valued at $156,000 after buying an additional 1,490 shares during the period. Brown Brothers Harriman & Co. lifted its position in shares of British American Tobacco by 76.4% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,237 shares of the company’s stock valued at $131,000 after buying an additional 1,835 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in British American Tobacco by 9.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 122,900 shares of the company’s stock worth $3,801,000 after acquiring an additional 10,138 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in British American Tobacco by 34.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 120,365 shares of the company’s stock worth $3,723,000 after acquiring an additional 31,129 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in British American Tobacco by 7.9% during the second quarter. First Eagle Investment Management LLC now owns 779,478 shares of the company’s stock valued at $24,109,000 after purchasing an additional 57,016 shares in the last quarter. Institutional investors and hedge funds own 16.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on BTI shares. Barclays raised shares of British American Tobacco to a “strong-buy” rating in a research note on Thursday, October 17th. Morgan Stanley cut British American Tobacco from an “overweight” rating to an “underweight” rating and set a $33.00 target price for the company. in a report on Thursday, October 3rd. Finally, StockNews.com lowered British American Tobacco from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

British American Tobacco Price Performance

NYSE:BTI opened at $36.17 on Friday. British American Tobacco p.l.c. has a twelve month low of $28.25 and a twelve month high of $39.54. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.58. The company’s 50-day moving average price is $36.74 and its 200-day moving average price is $35.96.

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.