British American Tobacco p.l.c. $BTI Position Trimmed by Empyrean Capital Partners LP

Empyrean Capital Partners LP trimmed its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI) by 12.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,925,000 shares of the company’s stock after selling 275,000 shares during the period. British American Tobacco makes up approximately 3.7% of Empyrean Capital Partners LP’s holdings, making the stock its 2nd largest position. Empyrean Capital Partners LP’s holdings in British American Tobacco were worth $112,555,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. AlphaCore Capital LLC increased its position in British American Tobacco by 1.6% during the 4th quarter. AlphaCore Capital LLC now owns 10,849 shares of the company’s stock valued at $614,000 after buying an additional 170 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in British American Tobacco by 3.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,996 shares of the company’s stock worth $283,000 after acquiring an additional 181 shares in the last quarter. NewEdge Wealth LLC boosted its holdings in British American Tobacco by 0.3% in the fourth quarter. NewEdge Wealth LLC now owns 58,696 shares of the company’s stock worth $3,323,000 after acquiring an additional 187 shares in the last quarter. Renasant Bank grew its stake in shares of British American Tobacco by 4.8% in the first quarter. Renasant Bank now owns 4,152 shares of the company’s stock worth $243,000 after acquiring an additional 192 shares during the last quarter. Finally, Intrua Financial LLC increased its holdings in shares of British American Tobacco by 3.8% during the first quarter. Intrua Financial LLC now owns 5,306 shares of the company’s stock valued at $310,000 after acquiring an additional 196 shares in the last quarter. 16.16% of the stock is owned by institutional investors.

British American Tobacco Stock Down 0.3%

Shares of NYSE:BTI opened at $60.76 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. British American Tobacco p.l.c. has a 1 year low of $49.88 and a 1 year high of $67.30. The stock’s fifty day moving average price is $61.48 and its 200-day moving average price is $60.06.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BTI. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. BTIG Research assumed coverage on shares of British American Tobacco in a research note on Tuesday, July 21st. They set a “buy” rating for the company. Weiss Ratings raised shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Morgan Stanley reiterated an “overweight” rating on shares of British American Tobacco in a report on Monday, June 8th. Finally, Wall Street Zen downgraded shares of British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.00.

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.