British American Tobacco p.l.c. $BTI Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC trimmed its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI) by 66.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,677 shares of the company’s stock after selling 45,586 shares during the period. Headlands Technologies LLC’s holdings in British American Tobacco were worth $1,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in BTI. Bank of America Corp DE lifted its position in shares of British American Tobacco by 34.4% during the 1st quarter. Bank of America Corp DE now owns 9,736,843 shares of the company’s stock worth $569,313,000 after buying an additional 2,494,576 shares during the last quarter. Orbis Allan Gray Ltd grew its position in shares of British American Tobacco by 20.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock valued at $686,473,000 after buying an additional 2,482,737 shares during the last quarter. WCM Investment Management LLC raised its stake in British American Tobacco by 3,899.7% during the 1st quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company’s stock worth $137,658,000 after acquiring an additional 2,303,743 shares in the last quarter. Raymond James Financial Inc. lifted its position in British American Tobacco by 85.1% in the second quarter. Raymond James Financial Inc. now owns 2,757,559 shares of the company’s stock valued at $130,515,000 after acquiring an additional 1,267,425 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in British American Tobacco in the third quarter valued at $47,852,000. Hedge funds and other institutional investors own 16.16% of the company’s stock.

British American Tobacco Trading Down 1.0%

Shares of BTI stock opened at $55.59 on Tuesday. The business’s fifty day moving average price is $59.58 and its 200 day moving average price is $59.91. The company has a quick ratio of 0.50, a current ratio of 0.84 and a debt-to-equity ratio of 0.64. British American Tobacco p.l.c. has a 1-year low of $49.88 and a 1-year high of $67.30.

British American Tobacco (NYSE:BTI) last released its earnings results on Wednesday, July 29th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($1.10). The business had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $16.42 billion. On average, sell-side analysts anticipate that British American Tobacco p.l.c. will post 4.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Royal Bank Of Canada reiterated an “underperform” rating on shares of British American Tobacco in a research report on Tuesday, August 11th. BTIG Research initiated coverage on British American Tobacco in a research note on Tuesday, July 21st. They set a “buy” rating on the stock. Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Wall Street Zen downgraded British American Tobacco from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Finally, 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. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, British American Tobacco currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

British American Tobacco Company Profile

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.