Envestnet Asset Management Inc. lessened its holdings in shares of British American Tobacco PLC (NYSE:BTI) by 7.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 353,367 shares of the company’s stock after selling 30,475 shares during the period. Envestnet Asset Management Inc.’s holdings in British American Tobacco were worth $23,672,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the business. Evercore Trust Company N.A. acquired a new position in British American Tobacco during the 3rd quarter worth $331,037,000. Cambiar Investors LLC boosted its position in British American Tobacco by 1,440.3% during the 4th quarter. Cambiar Investors LLC now owns 3,853,716 shares of the company’s stock worth $258,160,000 after acquiring an additional 3,603,522 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of British American Tobacco by 23.8% in the fourth quarter. Wells Fargo & Company MN now owns 3,542,767 shares of the company’s stock valued at $237,331,000 after buying an additional 680,783 shares during the period. Thornburg Investment Management Inc. acquired a new stake in shares of British American Tobacco in the third quarter valued at $183,498,000. Finally, Legal & General Group Plc acquired a new stake in shares of British American Tobacco in the third quarter valued at $180,398,000. Institutional investors own 8.79% of the company’s stock.
BTI has been the subject of several research analyst reports. Zacks Investment Research upgraded British American Tobacco from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Thursday, January 25th. Citigroup lowered British American Tobacco from a “buy” rating to a “neutral” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. British American Tobacco presently has a consensus rating of “Buy” and a consensus price target of $79.00.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Friday, October 5th will be given a dividend of $0.6792 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date is Thursday, October 4th.
About British American Tobacco
British American Tobacco p.l.c. is a tobacco and next generation products company. The Company’s tobacco product range includes cigarettes, fine cut (roll-your-own and make-your-own tobacco) and Swedish-style snus. Its segments include Asia-Pacific, Americas, Western Europe, and Eastern Europe, Middle East and Africa (EEMEA).
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