Allworth Financial LP Increases Stock Position in British American Tobacco p.l.c. $BTI

Allworth Financial LP boosted its stake in shares of British American Tobacco p.l.c. (NYSE:BTI) by 231.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,896 shares of the company’s stock after purchasing an additional 11,104 shares during the quarter. Allworth Financial LP’s holdings in British American Tobacco were worth $752,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orbis Allan Gray Ltd increased its stake in shares of British American Tobacco by 20.4% during the first 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 grew its holdings in British American Tobacco by 59.8% in the first quarter. GQG Partners LLC now owns 9,598,465 shares of the company’s stock valued at $397,089,000 after purchasing an additional 3,590,916 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of British American Tobacco by 93.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,792,258 shares of the company’s stock worth $132,158,000 after purchasing an additional 1,345,175 shares during the period. Newport Trust Company LLC lifted its stake in shares of British American Tobacco by 1.1% during the first quarter. Newport Trust Company LLC now owns 2,774,460 shares of the company’s stock worth $114,779,000 after purchasing an additional 31,205 shares in the last quarter. Finally, Northern Trust Corp boosted its position in British American Tobacco by 1.5% in the 1st quarter. Northern Trust Corp now owns 2,473,942 shares of the company’s stock valued at $102,347,000 after buying an additional 35,926 shares during the last quarter. Institutional investors and hedge funds own 16.16% of the company’s stock.

British American Tobacco Price Performance

NYSE:BTI opened at $54.10 on Friday. The stock’s 50-day moving average is $53.18 and its 200-day moving average is $51.12. British American Tobacco p.l.c. has a 1-year low of $34.82 and a 1-year high of $59.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.55 and a current ratio of 0.87.

Analyst Upgrades and Downgrades

Several research firms have commented on BTI. Royal Bank Of Canada cut shares of British American Tobacco from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, September 2nd. Argus raised shares of British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Monday, September 8th. Morgan Stanley reiterated an “underweight” rating and set a $40.00 price target on shares of British American Tobacco in a research note on Friday, August 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of British American Tobacco in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of British American Tobacco from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, British American Tobacco presently has a consensus rating of “Hold” and an average target price of $51.00.

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.