British American Tobacco (NYSE:BTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “British American Tobacco is the holding company of a group of companies which manufacture, market and sell tobacco products. “
A number of other brokerages have also issued reports on BTI. Cowen raised British American Tobacco from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 26th. Goldman Sachs Group raised British American Tobacco from a “neutral” rating to a “buy” rating in a research note on Monday, October 9th. Finally, Jefferies Group set a $78.00 price target on British American Tobacco and gave the stock a “buy” rating in a research note on Saturday, November 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $77.33.
Several large investors have recently modified their holdings of BTI. BB&T Investment Services Inc. boosted its stake in shares of British American Tobacco by 625.6% in the third quarter. BB&T Investment Services Inc. now owns 1,618 shares of the company’s stock worth $101,000 after acquiring an additional 1,395 shares during the last quarter. Delta Asset Management LLC TN lifted its position in British American Tobacco by 908.6% during the third quarter. Delta Asset Management LLC TN now owns 1,634 shares of the company’s stock worth $102,000 after buying an additional 1,472 shares in the last quarter. Krilogy Financial LLC purchased a new position in British American Tobacco during the third quarter worth approximately $106,000. D. Scott Neal Inc. purchased a new position in British American Tobacco during the third quarter worth approximately $106,000. Finally, Asset Management One Co. Ltd. purchased a new position in British American Tobacco during the third quarter worth approximately $109,000. 8.69% of the stock is currently owned by hedge funds and other institutional investors.
British American Tobacco Company Profile
British American Tobacco p.l.c. is a tobacco and next generation products company. The Company’s tobacco product range includes cigarettes, fine cut (roll-your-own and make-your-own tobacco) and Swedish-style snus. Its segments include Asia-Pacific, Americas, Western Europe, and Eastern Europe, Middle East and Africa (EEMEA).
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