British American Tobacco p.l.c. $BTI Shares Sold by Investors Research Corp

Investors Research Corp cut its holdings in British American Tobacco p.l.c. (NYSE:BTI) by 93.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,225 shares of the company’s stock after selling 18,394 shares during the period. Investors Research Corp’s holdings in British American Tobacco were worth $65,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Federated Hermes Inc. increased its stake in British American Tobacco by 2,066.9% in the second quarter. Federated Hermes Inc. now owns 3,476,001 shares of the company’s stock valued at $164,519,000 after purchasing an additional 3,315,589 shares during the last quarter. Orbis Allan Gray Ltd grew its holdings in British American Tobacco by 20.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock valued at $686,473,000 after buying an additional 2,482,737 shares during the period. Citigroup Inc. increased its stake in shares of British American Tobacco by 833.5% during the 2nd quarter. Citigroup Inc. now owns 2,121,918 shares of the company’s stock valued at $100,430,000 after acquiring an additional 1,894,617 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 1,837,106 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of British American Tobacco by 35.1% in the second quarter. Bank of America Corp DE now owns 5,355,932 shares of the company’s stock worth $253,496,000 after acquiring an additional 1,392,799 shares during the last quarter. Institutional investors and hedge funds own 16.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BTI shares. Argus raised shares of British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Monday, September 8th. Morgan Stanley reaffirmed an “underweight” rating on shares of British American Tobacco in a research report on Wednesday, December 10th. Kepler Capital Markets began coverage on British American Tobacco in a research report on Friday. They set a “buy” rating for the company. Weiss Ratings restated a “hold (c+)” rating on shares of British American Tobacco in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, British American Tobacco currently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

British American Tobacco Price Performance

Shares of NYSE BTI opened at $57.70 on Tuesday. The stock has a fifty day moving average price of $54.33 and a 200 day moving average price of $53.21. 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 12-month low of $34.82 and a 12-month high of $59.29.

About British American Tobacco

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.