New York State Common Retirement Fund Has $2.97 Million Holdings in British American Tobacco p.l.c. $BTI

New York State Common Retirement Fund reduced its stake in British American Tobacco p.l.c. (NYSE:BTI) by 29.0% during the third quarter, Holdings Channel.com reports. The fund owned 55,993 shares of the company’s stock after selling 22,815 shares during the period. New York State Common Retirement Fund’s holdings in British American Tobacco were worth $2,972,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BTI. True Wealth Design LLC acquired a new stake in British American Tobacco during the third quarter worth approximately $29,000. Cary Street Partners Financial LLC acquired a new position in shares of British American Tobacco during the second quarter worth approximately $30,000. Salem Investment Counselors Inc. raised its holdings in British American Tobacco by 48.6% during the third quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock worth $34,000 after buying an additional 207 shares during the last quarter. City Holding Co. bought a new position in British American Tobacco in the 3rd quarter valued at about $42,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of British American Tobacco in the second quarter worth approximately $44,000. Institutional investors own 16.16% of the company’s stock.

British American Tobacco Stock Performance

Shares of NYSE:BTI opened at $62.79 on Friday. British American Tobacco p.l.c. has a fifty-two week low of $37.31 and a fifty-two week high of $63.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.87 and a quick ratio of 0.55. The business has a 50-day simple moving average of $57.78 and a two-hundred day simple moving average of $55.64.

Wall Street Analysts Forecast Growth

Several research firms have commented on BTI. Weiss Ratings reissued a “hold (c+)” rating on shares of British American Tobacco in a research report on Wednesday, January 21st. Citigroup restated a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Kepler Capital Markets initiated coverage on British American Tobacco in a research note on Friday, December 12th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Finally, Morgan Stanley reissued an “underweight” rating on shares of British American Tobacco in a research note on Wednesday, December 10th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.00.

British American Tobacco Profile

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world’s largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT’s core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.