Russell Investments Group Ltd. Cuts Position in British American Tobacco p.l.c. $BTI

Russell Investments Group Ltd. cut its stake in British American Tobacco p.l.c. (NYSE:BTI) by 77.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,113 shares of the company’s stock after selling 78,429 shares during the period. Russell Investments Group Ltd.’s holdings in British American Tobacco were worth $956,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. grew its position in British American Tobacco by 27.7% in the first quarter. Lockheed Martin Investment Management Co. now owns 141,000 shares of the company’s stock worth $5,833,000 after acquiring an additional 30,600 shares in the last quarter. BNP Paribas Financial Markets grew its position in British American Tobacco by 21.8% in the fourth quarter. BNP Paribas Financial Markets now owns 82,029 shares of the company’s stock worth $2,979,000 after acquiring an additional 14,655 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new position in British American Tobacco in the first quarter worth $375,000. Atria Wealth Solutions Inc. grew its position in British American Tobacco by 28.8% in the first quarter. Atria Wealth Solutions Inc. now owns 25,726 shares of the company’s stock worth $1,074,000 after acquiring an additional 5,745 shares in the last quarter. Finally, Todd Asset Management LLC boosted its position in British American Tobacco by 26.9% during the first quarter. Todd Asset Management LLC now owns 741,893 shares of the company’s stock valued at $30,692,000 after buying an additional 157,251 shares during the period. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on BTI. Wall Street Zen lowered shares of British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Barclays restated an “overweight” rating on shares of British American Tobacco in a research report on Friday, June 13th. Morgan Stanley restated an “underweight” rating and set a $40.00 price target on shares of British American Tobacco in a research report on Friday, August 15th. Finally, Jefferies Financial Group began coverage on shares of British American Tobacco in a research report on Wednesday, July 9th. They set a “buy” rating for the company. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

British American Tobacco Stock Performance

Shares of NYSE:BTI opened at $56.85 on Friday. The company has a market cap of $117.09 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 2.26 and a beta of 0.38. The company has a 50-day moving average price of $53.16 and a 200-day moving average price of $46.18. 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 12 month low of $34.17 and a 12 month high of $59.29.

About British American Tobacco

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.