Newport Trust Co trimmed its holdings in shares of British American Tobacco PLC (NYSE:BTI) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,363,395 shares of the company’s stock after selling 76,875 shares during the period. British American Tobacco comprises 0.4% of Newport Trust Co’s investment portfolio, making the stock its 21st biggest holding. Newport Trust Co owned approximately 0.20% of British American Tobacco worth $161,009,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Cypress Capital LLC increased its stake in British American Tobacco by 10.2% in the 2nd quarter. Cypress Capital LLC now owns 13,796 shares of the company’s stock valued at $481,000 after purchasing an additional 1,275 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in British American Tobacco by 191.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,131 shares of the company’s stock valued at $39,000 after purchasing an additional 743 shares in the last quarter. Inlet Private Wealth LLC increased its stake in British American Tobacco by 51.0% in the 2nd quarter. Inlet Private Wealth LLC now owns 64,800 shares of the company’s stock valued at $2,352,000 after purchasing an additional 21,900 shares in the last quarter. Bessemer Group Inc. increased its stake in British American Tobacco by 78.5% in the 2nd quarter. Bessemer Group Inc. now owns 1,078 shares of the company’s stock valued at $38,000 after purchasing an additional 474 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in British American Tobacco by 845.6% in the 2nd quarter. SG Americas Securities LLC now owns 43,867 shares of the company’s stock valued at $1,530,000 after purchasing an additional 39,228 shares in the last quarter. 5.58% of the stock is owned by institutional investors and hedge funds.
British American Tobacco stock traded up $0.34 during mid-day trading on Friday, hitting $37.06. 1,332,200 shares of the company were exchanged, compared to its average volume of 2,032,641. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.73 and a quick ratio of 0.39. The business’s 50 day simple moving average is $35.31 and its two-hundred day simple moving average is $36.48. The company has a market capitalization of $76.78 billion, a P/E ratio of 9.36, a PEG ratio of 1.30 and a beta of 0.85. British American Tobacco PLC has a 12-month low of $30.67 and a 12-month high of $43.92.
BTI has been the subject of several research analyst reports. Piper Jaffray Companies downgraded British American Tobacco from an “overweight” rating to a “neutral” rating in a research note on Thursday, July 11th. Zacks Investment Research raised British American Tobacco from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $40.00.
British American Tobacco Profile
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, tobacco-free nicotine pouches, and moist snuff; cigars; and e-cigarettes. The company offers its products under the Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Camel, Natural American Spirit, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, Benson & Hedges, John Player Gold Leaf, State Express 555, and Shuang Xi brands.
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