Gabelli Funds LLC Purchases New Stake in British American Tobacco p.l.c. $BTI

Gabelli Funds LLC purchased a new stake in shares of British American Tobacco p.l.c. (NYSE:BTI) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 76,000 shares of the company’s stock, valued at approximately $4,444,000.

Several other institutional investors have also recently bought and sold shares of the business. Orbis Allan Gray Ltd grew its holdings in shares of British American Tobacco by 20.7% during the second 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 last quarter. WCM Investment Management LLC raised its holdings in shares of British American Tobacco by 3,899.7% in the 1st quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company’s stock worth $137,658,000 after acquiring an additional 2,303,743 shares during the last quarter. Bank of America Corp DE lifted its position in British American Tobacco by 29.5% in the 3rd quarter. Bank of America Corp DE now owns 6,934,792 shares of the company’s stock valued at $368,099,000 after acquiring an additional 1,578,860 shares in the last quarter. Raymond James Financial Inc. lifted its position in British American Tobacco by 85.1% in the 2nd quarter. Raymond James Financial Inc. now owns 2,757,559 shares of the company’s stock valued at $130,515,000 after acquiring an additional 1,267,425 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in British American Tobacco during the 3rd quarter valued at about $47,852,000. Institutional investors and hedge funds own 16.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BTI. BTIG Research started coverage on British American Tobacco in a research note on Tuesday, July 21st. They issued a “buy” rating for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of British American Tobacco in a research report on Monday, June 8th. Weiss Ratings upgraded British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a 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. Finally, Citigroup restated a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Trading Up 2.5%

Shares of NYSE:BTI opened at $62.34 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87. The business has a fifty day moving average price of $61.41 and a two-hundred day moving average price of $60.13. 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 Profile

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.