Callodine Capital Management LP Invests $24.97 Million in British American Tobacco p.l.c. $BTI

Callodine Capital Management LP acquired a new stake in British American Tobacco p.l.c. (NYSE:BTI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 527,500 shares of the company’s stock, valued at approximately $24,967,000. British American Tobacco comprises about 2.6% of Callodine Capital Management LP’s portfolio, making the stock its 14th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BTI. Pandora Wealth Inc. acquired a new stake in shares of British American Tobacco during the 1st quarter worth approximately $32,000. Twin Peaks Wealth Advisors LLC acquired a new position in British American Tobacco in the 2nd quarter worth about $44,000. State of Wyoming purchased a new position in shares of British American Tobacco during the 1st quarter valued at approximately $57,000. UMB Bank n.a. grew its position in shares of British American Tobacco by 36.4% in the second quarter. UMB Bank n.a. now owns 1,371 shares of the company’s stock valued at $65,000 after purchasing an additional 366 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in British American Tobacco by 279.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,475 shares of the company’s stock worth $70,000 after buying an additional 1,086 shares in the last quarter. 16.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on BTI. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Royal Bank Of Canada downgraded shares of British American Tobacco from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, September 2nd. Morgan Stanley reaffirmed 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, Weiss Ratings reissued a “hold (c+)” rating on shares of British American Tobacco in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.00.

British American Tobacco Trading Down 1.7%

Shares of BTI opened at $57.03 on Friday. British American Tobacco p.l.c. has a 12-month low of $34.82 and a 12-month high of $59.29. The firm has a 50-day moving average price of $53.66 and a 200 day moving average price of $52.62. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.87 and a quick ratio of 0.55.

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.