Maple Rock Capital Partners Inc. Purchases 576,900 Shares of British American Tobacco p.l.c. $BTI

Maple Rock Capital Partners Inc. raised its position in British American Tobacco p.l.c. (NYSE:BTI) by 36.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,166,000 shares of the company’s stock after purchasing an additional 576,900 shares during the period. British American Tobacco accounts for 2.7% of Maple Rock Capital Partners Inc.’s investment portfolio, making the stock its 11th biggest position. Maple Rock Capital Partners Inc.’s holdings in British American Tobacco were worth $133,772,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BTI. AlphaCore Capital LLC grew its stake in British American Tobacco by 1.6% in the 4th quarter. AlphaCore Capital LLC now owns 10,849 shares of the company’s stock worth $614,000 after buying an additional 170 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of 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 buying an additional 181 shares during the period. Empowered Funds LLC lifted its position in British American Tobacco by 3.1% in the first quarter. Empowered Funds LLC now owns 6,184 shares of the company’s stock valued at $362,000 after purchasing an additional 186 shares during the last quarter. NewEdge Wealth LLC boosted its position in British American Tobacco by 0.3% during the 4th quarter. NewEdge Wealth LLC now owns 58,696 shares of the company’s stock valued at $3,323,000 after buying an additional 187 shares during the period. Finally, 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 purchasing an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 16.16% of the company’s stock.

Wall Street Analysts Forecast Growth

BTI has been the topic of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of British American Tobacco in a report on Monday, June 8th. Royal Bank Of Canada reissued an “underperform” rating on shares of British American Tobacco in a report on Tuesday, August 11th. Citigroup restated a “buy” rating on shares of British American Tobacco in a report on Thursday, May 14th. Wall Street Zen lowered British American Tobacco from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, BTIG Research assumed coverage on shares of British American Tobacco in a research report on Tuesday, July 21st. They set a “buy” rating for the company. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.00.

British American Tobacco Stock Performance

Shares of NYSE BTI opened at $55.59 on Tuesday. The firm has a 50-day simple moving average of $59.58 and a two-hundred day simple moving average of $59.91. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.84 and a quick ratio of 0.50. British American Tobacco p.l.c. has a 1 year low of $49.88 and a 1 year high of $67.30.

British American Tobacco (NYSE:BTI) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($1.10). The firm had revenue of $8.10 billion for the quarter, compared to analysts’ expectations of $16.42 billion. As a group, research analysts anticipate that British American Tobacco p.l.c. will post 4.86 EPS for the current fiscal year.

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.