First Trust Advisors LP Has $43.48 Million Position in British American Tobacco p.l.c. $BTI

First Trust Advisors LP lessened its holdings in British American Tobacco p.l.c. (NYSE:BTI) by 19.8% in the second quarter, Holdings Channel reports. The institutional investor owned 918,631 shares of the company’s stock after selling 227,200 shares during the period. First Trust Advisors LP’s holdings in British American Tobacco were worth $43,479,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Orbis Allan Gray Ltd raised its stake in shares of British American Tobacco by 20.4% during the first quarter. Orbis Allan Gray Ltd now owns 12,021,231 shares of the company’s stock valued at $497,318,000 after acquiring an additional 2,040,011 shares during the last quarter. GQG Partners LLC grew its stake in shares of British American Tobacco by 59.8% in the first quarter. GQG Partners LLC now owns 9,598,465 shares of the company’s stock worth $397,089,000 after purchasing an additional 3,590,916 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in British American Tobacco by 93.0% in the second quarter. Envestnet Asset Management Inc. now owns 2,792,258 shares of the company’s stock valued at $132,158,000 after purchasing an additional 1,345,175 shares during the period. Newport Trust Company LLC raised its position in British American Tobacco by 1.1% during the 1st quarter. Newport Trust Company LLC now owns 2,774,460 shares of the company’s stock worth $114,779,000 after purchasing an additional 31,205 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in British American Tobacco by 201.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,748,324 shares of the company’s stock worth $130,078,000 after buying an additional 1,837,106 shares during the period. 16.16% of the stock is owned by institutional investors.

British American Tobacco Stock Performance

Shares of NYSE BTI opened at $57.45 on Tuesday. The firm’s 50-day moving average price is $53.75 and its 200-day moving average price is $52.76. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68. British American Tobacco p.l.c. has a 1-year low of $34.82 and a 1-year high of $59.29.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BTI shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Citigroup restated a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Argus raised shares of British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Monday, September 8th. Morgan Stanley reissued an “underweight” rating and set a $40.00 target price on shares of British American Tobacco in a research note on Friday, August 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of British American Tobacco in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Company Profile

British American Tobacco p.l.c. engages in the provision of tobacco and nicotine products to consumers worldwide. It also offers vapour, heated, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company offers its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Camel, Natural American Spirit, Newport, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, State Express 555 and Shuang Xi brands.