Callodine Capital Management LP Has $63 Million Stock Holdings in British American Tobacco p.l.c. $BTI

Callodine Capital Management LP grew its holdings in British American Tobacco p.l.c. (NYSE:BTI) by 58.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,077,491 shares of the company’s stock after purchasing an additional 397,114 shares during the period. British American Tobacco comprises approximately 4.4% of Callodine Capital Management LP’s investment portfolio, making the stock its 5th biggest holding. Callodine Capital Management LP’s holdings in British American Tobacco were worth $63,001,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. First Command Advisory Services Inc. grew its position in British American Tobacco by 1,386.7% in the fourth quarter. First Command Advisory Services Inc. now owns 446 shares of the company’s stock valued at $25,000 after purchasing an additional 416 shares in the last quarter. Glen Eagle Advisors LLC acquired a new position in shares of British American Tobacco during the 4th quarter worth about $26,000. Cary Street Partners Financial LLC bought a new position in shares of British American Tobacco in the 2nd quarter valued at about $30,000. SHP Wealth Management acquired a new stake in shares of British American Tobacco in the fourth quarter valued at about $35,000. Finally, Cornerstone Planning Group LLC increased its position in shares of British American Tobacco by 141.2% in the fourth quarter. Cornerstone Planning Group LLC now owns 591 shares of the company’s stock valued at $36,000 after acquiring an additional 346 shares during the last quarter. Institutional investors and hedge funds own 16.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BTI shares. Weiss Ratings raised British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Wall Street Zen lowered British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Citigroup reissued a “buy” rating on shares of British American Tobacco in a report on Thursday, May 14th. BTIG Research assumed coverage on shares of British American Tobacco in a research note on Tuesday. They issued a “buy” rating for the company. Finally, Morgan Stanley restated an “overweight” rating on shares of British American Tobacco in a report on Monday, June 8th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, British American Tobacco currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

British American Tobacco Stock Up 1.8%

Shares of BTI opened at $60.89 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57. The company’s 50-day moving average is $61.60 and its 200-day moving average is $59.98. British American Tobacco p.l.c. has a fifty-two week low of $49.88 and a fifty-two week high of $67.30.

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.