Zacks Investment Research downgraded shares of British American Tobacco (NYSE:BTI) from a buy rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “British American Tobacco is the holding company of a group of companies which manufacture, market and sell tobacco products. “
Separately, Citigroup lowered British American Tobacco from a buy rating to a neutral rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. British American Tobacco has a consensus rating of Buy and an average target price of $79.00.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Friday, October 5th will be issued 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 of this dividend is Thursday, October 4th.
Several institutional investors have recently added to or reduced their stakes in the stock. Evercore Trust Company N.A. acquired a new stake in shares of British American Tobacco during the third quarter worth about $331,037,000. Cambiar Investors LLC lifted its holdings in shares of British American Tobacco by 1,440.3% during the fourth quarter. Cambiar Investors LLC now owns 3,853,716 shares of the company’s stock worth $258,160,000 after purchasing 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% during the fourth quarter. Wells Fargo & Company MN now owns 3,542,767 shares of the company’s stock worth $237,331,000 after purchasing an additional 680,783 shares during the period. Thornburg Investment Management Inc. acquired a new stake in shares of British American Tobacco during the third quarter worth about $183,498,000. Finally, Legal & General Group Plc acquired a new stake in shares of British American Tobacco during the third quarter worth about $180,398,000. 8.79% of the stock is owned by hedge funds and other institutional investors.
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British American Tobacco Company Profile
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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