Short Interest in British American Tobacco p.l.c. (NYSE:BTI) Rises By 21.0%

British American Tobacco p.l.c. (NYSE:BTI) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 6,569,362 shares, a growth of 21.0% from the February 26th total of 5,430,502 shares. Based on an average daily volume of 5,869,099 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Investors Weigh In On British American Tobacco

Several institutional investors and hedge funds have recently made changes to their positions in BTI. First Command Advisory Services Inc. lifted its holdings in British American Tobacco by 1,386.7% during the 4th quarter. First Command Advisory Services Inc. now owns 446 shares of the company’s stock valued at $25,000 after purchasing an additional 416 shares during the last quarter. Glen Eagle Advisors LLC bought a new stake in British American Tobacco during the fourth quarter worth about $26,000. True Wealth Design LLC acquired a new stake in shares of British American Tobacco during the third quarter worth approximately $29,000. Cornerstone Planning Group LLC increased its holdings in shares of British American Tobacco by 141.2% during the fourth quarter. Cornerstone Planning Group LLC now owns 591 shares of the company’s stock worth $36,000 after buying an additional 346 shares in the last quarter. Finally, SHP Wealth Management bought a new position in shares of British American Tobacco in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 16.16% of the company’s stock.

British American Tobacco Stock Down 0.9%

Shares of BTI opened at $57.94 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57. British American Tobacco has a 1 year low of $37.96 and a 1 year high of $63.22. The stock has a 50 day simple moving average of $59.97 and a 200-day simple moving average of $56.62.

British American Tobacco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, December 29th will be paid a dividend of $0.8349 per share. This represents a $3.34 annualized dividend and a yield of 5.8%. The ex-dividend date is Tuesday, December 29th.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Kepler Capital Markets assumed coverage on British American Tobacco in a research note on Friday, December 12th. They issued a “buy” rating for the company. Wall Street Zen raised shares of British American Tobacco from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Weiss Ratings upgraded shares of British American Tobacco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of British American Tobacco in a report on Wednesday, December 10th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.