British American Tobacco p.l.c. $BTI Holdings Increased by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its position in British American Tobacco p.l.c. (NYSE:BTI) by 12.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,156 shares of the company’s stock after purchasing an additional 13,231 shares during the period. DAVENPORT & Co LLC’s holdings in British American Tobacco were worth $6,325,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Orbis Allan Gray Ltd boosted its holdings in British American Tobacco by 20.7% during the second quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock worth $686,473,000 after buying an additional 2,482,737 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of British American Tobacco by 35.1% during the second quarter. Bank of America Corp DE now owns 5,355,932 shares of the company’s stock valued at $253,496,000 after acquiring an additional 1,392,799 shares during the period. Federated Hermes Inc. lifted its position in shares of British American Tobacco by 2,066.9% in the 2nd quarter. Federated Hermes Inc. now owns 3,476,001 shares of the company’s stock valued at $164,519,000 after acquiring an additional 3,315,589 shares in the last quarter. Envestnet Asset Management Inc. grew its position in British American Tobacco by 93.0% during 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 in the last quarter. Finally, Raymond James Financial Inc. raised its stake in British American Tobacco by 85.1% during the 2nd quarter. Raymond James Financial Inc. now owns 2,757,559 shares of the company’s stock valued at $130,515,000 after purchasing an additional 1,267,425 shares during the period. Institutional investors own 16.16% of the company’s stock.

British American Tobacco Stock Performance

British American Tobacco stock opened at $57.10 on Friday. British American Tobacco p.l.c. has a 1-year low of $34.82 and a 1-year high of $59.29. The firm’s fifty day simple moving average is $55.24 and its 200-day simple moving average is $53.70. 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

A number of research analysts have recently weighed in on BTI shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Argus raised shares of British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Monday, September 8th. Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Morgan Stanley reiterated an “underweight” rating on shares of British American Tobacco in a research report on Wednesday, December 10th. Finally, Royal Bank Of Canada cut shares of British American Tobacco from a “sector perform” rating to an “underperform” rating in a report on Tuesday, September 2nd. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

About British American Tobacco

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.