Traders Buy British American Tobacco p.l.c. (NYSE:BTI) on Weakness

Traders purchased shares of British American Tobacco p.l.c. (NYSE:BTI) on weakness during trading on Monday. $215.14 million flowed into the stock on the tick-up and $135.38 million flowed out of the stock on the tick-down, for a money net flow of $79.76 million into the stock. Of all stocks tracked, British American Tobacco p.l.c. had the 6th highest net in-flow for the day. British American Tobacco p.l.c. traded down ($2.30) for the day and closed at $69.25

A number of brokerages have weighed in on BTI. J P Morgan Chase & Co reiterated an “overweight” rating on shares of British American Tobacco p.l.c. in a report on Thursday, August 3rd. Bank of America Corporation set a $79.00 price objective on British American Tobacco p.l.c. and gave the company a “buy” rating in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of British American Tobacco p.l.c. in a report on Friday. Zacks Investment Research downgraded British American Tobacco p.l.c. from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Finally, Piper Jaffray Companies started coverage on British American Tobacco p.l.c. in a report on Thursday, May 25th. They set an “overweight” rating and a $59.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $71.00.

The company’s 50 day moving average is $67.33 and its 200-day moving average is $73.44. The stock has a market capitalization of $116.89 billion, a PE ratio of 20.96 and a beta of 1.02.

The company also recently announced a None dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, August 18th will be given a $0.728 dividend. This represents a dividend yield of 2.28%. The ex-dividend date is Wednesday, August 16th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Prospera Financial Services Inc purchased a new position in shares of British American Tobacco p.l.c. during the second quarter valued at about $378,000. Hays Advisory LLC raised its position in shares of British American Tobacco p.l.c. by 5.1% in the second quarter. Hays Advisory LLC now owns 4,129 shares of the company’s stock valued at $283,000 after buying an additional 199 shares in the last quarter. Huntington National Bank raised its position in shares of British American Tobacco p.l.c. by 41.1% in the second quarter. Huntington National Bank now owns 2,706 shares of the company’s stock valued at $185,000 after buying an additional 788 shares in the last quarter. RB Capital Management LLC purchased a new position in shares of British American Tobacco p.l.c. during the second quarter valued at about $306,000. Finally, United States Steel & Carnegie Pension Fund raised its position in shares of British American Tobacco p.l.c. by 320.6% in the first quarter. United States Steel & Carnegie Pension Fund now owns 636,400 shares of the company’s stock valued at $42,206,000 after buying an additional 485,100 shares in the last quarter. 5.55% of the stock is owned by hedge funds and other institutional investors.

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About British American Tobacco p.l.c.

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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