OLD National Bancorp IN Cuts Stake in British American Tobacco p.l.c. $BTI

OLD National Bancorp IN lessened its stake in British American Tobacco p.l.c. (NYSE:BTI) by 30.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,027 shares of the company’s stock after selling 4,409 shares during the quarter. OLD National Bancorp IN’s holdings in British American Tobacco were worth $475,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Highland Capital Management LLC purchased a new position in shares of British American Tobacco in the 2nd quarter valued at about $710,000. QRG Capital Management Inc. increased its holdings in shares of British American Tobacco by 23.4% in the 2nd quarter. QRG Capital Management Inc. now owns 240,548 shares of the company’s stock valued at $11,385,000 after purchasing an additional 45,662 shares in the last quarter. WT Asset Management Ltd purchased a new position in shares of British American Tobacco in the 2nd quarter valued at about $37,850,000. Jackson Wealth Management LLC purchased a new position in shares of British American Tobacco in the 2nd quarter valued at about $1,289,000. Finally, Stock Yards Bank & Trust Co. increased its holdings in shares of British American Tobacco by 63.3% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 10,068 shares of the company’s stock valued at $477,000 after purchasing an additional 3,904 shares in the last quarter. Hedge funds and other institutional investors own 16.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BTI shares. Jefferies Financial Group started coverage on shares of British American Tobacco in a report on Wednesday, July 9th. They issued a “buy” rating for the company. Morgan Stanley reissued an “underweight” rating and issued a $40.00 price objective on shares of British American Tobacco in a research note on Friday, August 15th. Barclays reissued an “overweight” rating on shares of British American Tobacco in a research note on Friday, June 13th. Argus raised shares of British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Monday, September 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of British American Tobacco in a research note on Saturday, September 27th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, British American Tobacco presently has a consensus rating of “Hold” and a consensus price target of $51.00.

British American Tobacco Price Performance

British American Tobacco stock opened at $52.03 on Wednesday. British American Tobacco p.l.c. has a 12-month low of $34.17 and a 12-month high of $59.29. The stock has a market capitalization of $107.05 billion, a P/E ratio of 10.68, a P/E/G ratio of 3.55 and a beta of 0.42. The firm’s 50-day moving average is $55.53 and its two-hundred day moving average is $48.94. 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 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.