CIBC Asset Management Inc grew its position in British American Tobacco PLC (NYSE:BTI) by 18.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,605 shares of the company’s stock after buying an additional 6,865 shares during the quarter. CIBC Asset Management Inc’s holdings in British American Tobacco were worth $2,033,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. HL Financial Services LLC lifted its stake in shares of British American Tobacco by 82.8% during the 3rd quarter. HL Financial Services LLC now owns 9,743 shares of the company’s stock worth $454,000 after purchasing an additional 4,412 shares during the last quarter. Usca Ria LLC lifted its stake in shares of British American Tobacco by 45.7% during the 3rd quarter. Usca Ria LLC now owns 45,429 shares of the company’s stock worth $2,118,000 after purchasing an additional 14,252 shares during the last quarter. Zions Bancorporation purchased a new stake in shares of British American Tobacco during the 3rd quarter worth $840,000. Wells Fargo & Company MN lifted its stake in shares of British American Tobacco by 5.8% during the 3rd quarter. Wells Fargo & Company MN now owns 2,828,579 shares of the company’s stock worth $131,898,000 after purchasing an additional 156,133 shares during the last quarter. Finally, Comerica Bank lifted its stake in shares of British American Tobacco by 10.4% during the 3rd quarter. Comerica Bank now owns 153,110 shares of the company’s stock worth $6,968,000 after purchasing an additional 14,433 shares during the last quarter. Institutional investors and hedge funds own 7.69% of the company’s stock.
British American Tobacco stock opened at $41.75 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.81 and a quick ratio of 0.41. British American Tobacco PLC has a one year low of $41.48 and a one year high of $71.44.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded British American Tobacco from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. DZ Bank restated a “sell” rating on shares of British American Tobacco in a research note on Thursday, October 18th. UBS Group cut British American Tobacco from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Sanford C. Bernstein assumed coverage on British American Tobacco in a research note on Tuesday, October 16th. They set a “market perform” rating for the company. Finally, Jefferies Financial Group set a $66.00 price objective on British American Tobacco and gave the stock a “buy” rating in a research note on Monday, September 17th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $73.00.
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About British American Tobacco
British American Tobacco p.l.c. provides cigarettes and other tobacco products worldwide. It manufactures vapour and tobacco heating products; oral tobacco and nicotine products, such as snus and moist snuff; cigars; and e-cigarettes. The company offers its products under the Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, Benson & Hedges, John Player Gold Leaf, State Express 555, and Shuang Xi brands.
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