Citigroup Inc. Sells 1,738,015 Shares of British American Tobacco p.l.c. $BTI

Citigroup Inc. cut its stake in shares of British American Tobacco p.l.c. (NYSE:BTI) by 81.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 383,903 shares of the company’s stock after selling 1,738,015 shares during the quarter. Citigroup Inc.’s holdings in British American Tobacco were worth $20,378,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BTI. True Wealth Design LLC bought a new position in British American Tobacco during the 3rd quarter valued at about $29,000. Cary Street Partners Financial LLC acquired a new stake in shares of British American Tobacco during the second quarter worth approximately $30,000. Salem Investment Counselors Inc. increased its holdings in shares of British American Tobacco by 48.6% during the third quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock worth $34,000 after buying an additional 207 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of British American Tobacco by 100.0% in the third quarter. Westside Investment Management Inc. now owns 782 shares of the company’s stock valued at $41,000 after acquiring an additional 391 shares during the last quarter. Finally, City Holding Co. acquired a new position in shares of British American Tobacco in the 3rd quarter worth approximately $42,000. Institutional investors own 16.16% of the company’s stock.

British American Tobacco Trading Down 0.6%

Shares of NYSE BTI opened at $62.66 on Friday. British American Tobacco p.l.c. has a 1 year low of $37.96 and a 1 year high of $63.22. The firm’s 50-day moving average is $58.68 and its 200-day moving average is $56.27. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66.

British American Tobacco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, December 29th will be issued a dividend of $0.8349 per share. This represents a $3.34 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, December 29th.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BTI shares. Morgan Stanley reiterated an “underweight” rating on shares of British American Tobacco in a research report on Wednesday, December 10th. Weiss Ratings upgraded shares of British American Tobacco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Kepler Capital Markets began coverage on shares of British American Tobacco in a research report on Friday, December 12th. They issued a “buy” rating for the company. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Eight research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, British American Tobacco has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

British American Tobacco Company Profile

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.