Short Interest in British American Tobacco p.l.c. (NYSE:BTI) Decreases By 40.3%

British American Tobacco p.l.c. (NYSE:BTI) was the target of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 3,620,239 shares, a decrease of 40.3% from the May 14th total of 6,068,684 shares. Based on an average trading volume of 3,316,724 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.2% of the company’s shares are sold short.

British American Tobacco Stock Up 0.5%

Shares of NYSE BTI traded up $0.32 during midday trading on Tuesday, hitting $61.38. 4,233,913 shares of the company’s stock were exchanged, compared to its average volume of 3,716,037. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87. British American Tobacco has a 12 month low of $46.38 and a 12 month high of $67.30. The company’s 50 day moving average price is $60.51 and its 200 day moving average price is $59.28.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup reissued a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. Morgan Stanley reissued an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Wall Street Zen lowered British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings raised British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, British American Tobacco presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Institutional Trading of British American Tobacco

Several hedge funds have recently added to or reduced their stakes in BTI. Capital World Investors grew its holdings in shares of British American Tobacco by 12,870.7% during the third quarter. Capital World Investors now owns 9,470,709 shares of the company’s stock valued at $502,687,000 after buying an additional 9,397,693 shares during the last quarter. Wealth High Governance Capital Ltda purchased a new stake in shares of British American Tobacco during the 4th quarter worth about $6,911,000. Assetmark Inc. boosted its stake in shares of British American Tobacco by 4.3% during the 4th quarter. Assetmark Inc. now owns 557,887 shares of the company’s stock worth $31,588,000 after acquiring an additional 23,141 shares in the last quarter. Modern Wealth Management LLC purchased a new stake in shares of British American Tobacco during the 3rd quarter worth about $14,771,000. Finally, M&T Bank Corp boosted its stake in shares of British American Tobacco by 74.6% during the 4th quarter. M&T Bank Corp now owns 102,703 shares of the company’s stock worth $5,815,000 after acquiring an additional 43,886 shares in the last quarter. 16.16% of the stock is owned by institutional investors and hedge funds.

About British American Tobacco

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.