Envestnet Portfolio Solutions Inc. Has $511,000 Holdings in British American Tobacco p.l.c. (NYSE:BTI)

Envestnet Portfolio Solutions Inc. lessened its position in British American Tobacco p.l.c. (NYSE:BTI) by 61.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 12,345 shares of the company’s stock after selling 19,638 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in British American Tobacco were worth $511,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in shares of British American Tobacco by 17.1% in the fourth quarter. Capital International Investors now owns 38,873,006 shares of the company’s stock valued at $1,411,179,000 after purchasing an additional 5,673,619 shares in the last quarter. FMR LLC lifted its holdings in British American Tobacco by 44.0% during the fourth quarter. FMR LLC now owns 10,232,402 shares of the company’s stock worth $371,641,000 after acquiring an additional 3,127,046 shares during the period. Bank of Montreal Can lifted its holdings in British American Tobacco by 2,565.4% during the fourth quarter. Bank of Montreal Can now owns 2,079,322 shares of the company’s stock worth $75,521,000 after acquiring an additional 2,001,311 shares during the period. Bridgewater Associates LP lifted its holdings in British American Tobacco by 261.7% during the fourth quarter. Bridgewater Associates LP now owns 2,681,379 shares of the company’s stock worth $97,388,000 after acquiring an additional 1,940,035 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in British American Tobacco during the fourth quarter worth $55,620,000. Institutional investors and hedge funds own 16.16% of the company’s stock.

British American Tobacco Trading Up 0.7%

BTI opened at $48.10 on Friday. The business has a 50 day simple moving average of $45.10 and a two-hundred day simple moving average of $41.13. The firm has a market capitalization of $99.31 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 4.01 and a beta of 0.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.76 and a quick ratio of 0.52. British American Tobacco p.l.c. has a one year low of $30.81 and a one year high of $49.58.

British American Tobacco Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.7391 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a dividend yield of 5.99%. British American Tobacco’s dividend payout ratio (DPR) is 65.09%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Bank of America assumed coverage on British American Tobacco in a report on Wednesday, April 30th. They set a “buy” rating on the stock. Barclays restated an “overweight” rating on shares of British American Tobacco in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.00.

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.