Factory Mutual Insurance Co. Buys New Stake in British American Tobacco p.l.c. $BTI

Factory Mutual Insurance Co. purchased a new stake in British American Tobacco p.l.c. (NYSE:BTI) during the third quarter, according to its most recent filing with the SEC. The fund purchased 64,145 shares of the company’s stock, valued at approximately $3,405,000.

A number of other institutional investors have also recently made changes to their positions in BTI. Federated Hermes Inc. lifted its position in shares of British American Tobacco by 2,066.9% in the second quarter. Federated Hermes Inc. now owns 3,476,001 shares of the company’s stock worth $164,519,000 after buying an additional 3,315,589 shares in the last quarter. Orbis Allan Gray Ltd increased its stake in British American Tobacco by 20.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock worth $686,473,000 after acquiring an additional 2,482,737 shares during the last quarter. Citigroup Inc. raised its holdings in shares of British American Tobacco by 833.5% during the 2nd quarter. Citigroup Inc. now owns 2,121,918 shares of the company’s stock worth $100,430,000 after acquiring an additional 1,894,617 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of British American Tobacco by 201.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,748,324 shares of the company’s stock valued at $130,078,000 after acquiring an additional 1,837,106 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of British American Tobacco by 35.1% in 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 purchasing an additional 1,392,799 shares in the last quarter. Hedge funds and other institutional investors own 16.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BTI shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Kepler Capital Markets assumed coverage on shares of British American Tobacco in a research report on Friday, December 12th. They set a “buy” rating on the stock. Morgan Stanley reiterated an “underweight” rating on shares of British American Tobacco in a research report on Wednesday, December 10th. Weiss Ratings raised British American Tobacco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

British American Tobacco Stock Up 3.6%

Shares of NYSE:BTI opened at $60.99 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 0.66. British American Tobacco p.l.c. has a 12 month low of $37.31 and a 12 month high of $63.03. The firm’s 50-day moving average is $58.17 and its 200 day moving average is $56.06.

British American Tobacco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Stockholders of record on Tuesday, December 29th will be issued a $0.8349 dividend. This represents a $3.34 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, December 29th.

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.