British American Tobacco PLC (NYSE:BTI) – Equities research analysts at Jefferies Group lowered their FY2018 earnings estimates for British American Tobacco in a report released on Monday. Jefferies Group analyst O. Bennett now expects that the company will post earnings per share of $4.20 for the year, down from their previous estimate of $4.24. Jefferies Group has a “Buy” rating and a $78.00 price target on the stock.
A number of other brokerages also recently commented on BTI. Zacks Investment Research downgraded shares of British American Tobacco from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Citigroup downgraded shares of British American Tobacco from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $79.00.
A number of hedge funds have recently modified their holdings of BTI. Bank of New York Mellon Corp raised its stake in shares of British American Tobacco by 1,509.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,032,924 shares of the company’s stock valued at $501,659,000 after acquiring an additional 7,533,669 shares during the period. Evercore Trust Company N.A. purchased a new stake in shares of British American Tobacco in the 3rd quarter valued at approximately $331,037,000. Cambiar Investors LLC raised its stake in shares of British American Tobacco by 1,440.3% in the 4th quarter. Cambiar Investors LLC now owns 3,853,716 shares of the company’s stock valued at $258,160,000 after acquiring an additional 3,603,522 shares during the period. Wells Fargo & Company MN raised its stake in shares of British American Tobacco by 23.8% in the 4th quarter. Wells Fargo & Company MN now owns 3,542,767 shares of the company’s stock valued at $237,331,000 after acquiring an additional 680,783 shares during the period. Finally, Thornburg Investment Management Inc. purchased a new stake in shares of British American Tobacco in the 3rd quarter valued at approximately $183,498,000. 9.09% of the stock is currently owned by institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Friday, October 5th will be paid a dividend of $0.6792 per share. This represents a $2.72 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Thursday, October 4th.
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About British American Tobacco
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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