Code Waechter LLC Invests $254,000 in British American Tobacco p.l.c. $BTI

Code Waechter LLC acquired a new position in British American Tobacco p.l.c. (NYSE:BTI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,359 shares of the company’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd lifted its position in British American Tobacco by 20.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 12,021,231 shares of the company’s stock worth $497,318,000 after acquiring an additional 2,040,011 shares during the period. GQG Partners LLC lifted its position in British American Tobacco by 59.8% during the 1st quarter. GQG Partners LLC now owns 9,598,465 shares of the company’s stock worth $397,089,000 after acquiring an additional 3,590,916 shares during the period. Envestnet Asset Management Inc. lifted its position in British American Tobacco by 93.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,792,258 shares of the company’s stock worth $132,158,000 after acquiring an additional 1,345,175 shares during the period. Newport Trust Company LLC lifted its position in British American Tobacco by 1.1% during the 1st quarter. Newport Trust Company LLC now owns 2,774,460 shares of the company’s stock worth $114,779,000 after acquiring an additional 31,205 shares during the period. Finally, Northern Trust Corp lifted its position in British American Tobacco by 1.5% during the 1st quarter. Northern Trust Corp now owns 2,473,942 shares of the company’s stock worth $102,347,000 after acquiring an additional 35,926 shares during the period. Institutional investors and hedge funds own 16.16% of the company’s stock.

British American Tobacco Trading Up 2.6%

NYSE BTI opened at $52.51 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68. British American Tobacco p.l.c. has a fifty-two week low of $34.82 and a fifty-two week high of $59.29. The stock has a 50-day simple moving average of $53.47 and a two-hundred day simple moving average of $50.47.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BTI shares. Argus raised British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Monday, September 8th. Jefferies Financial Group started coverage on British American Tobacco in a research report on Wednesday, July 9th. They set a “buy” rating for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of British American Tobacco in a research note on Wednesday, October 8th. Morgan Stanley reiterated an “underweight” rating and set a $40.00 price objective on shares of British American Tobacco in a research note on Friday, August 15th. Finally, Royal Bank Of Canada lowered British American Tobacco from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, September 2nd. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, British American Tobacco has an average rating of “Hold” and an average target price of $51.00.

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.