British American Tobacco p.l.c. (NYSE:BTI) is Investment Management Associates Inc. ADV’s 2nd Largest Position

Investment Management Associates Inc. ADV reduced its position in shares of British American Tobacco p.l.c. (NYSE:BTI) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 590,935 shares of the company’s stock after selling 21,582 shares during the period. British American Tobacco accounts for about 10.0% of Investment Management Associates Inc. ADV’s investment portfolio, making the stock its 2nd largest position. Investment Management Associates Inc. ADV’s holdings in British American Tobacco were worth $24,447,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Rosenberg Matthew Hamilton boosted its holdings in British American Tobacco by 87.0% in the first quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company’s stock valued at $25,000 after acquiring an additional 280 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of British American Tobacco by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 610 shares of the company’s stock worth $25,000 after acquiring an additional 305 shares during the last quarter. Ameriflex Group Inc. bought a new stake in British American Tobacco in the fourth quarter valued at about $26,000. Financial Management Professionals Inc. increased its holdings in British American Tobacco by 78.5% in the first quarter. Financial Management Professionals Inc. now owns 632 shares of the company’s stock valued at $26,000 after buying an additional 278 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in British American Tobacco by 292.7% in the first quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $27,000 after buying an additional 480 shares during the last quarter. 16.16% of the stock is owned by institutional investors and hedge funds.

British American Tobacco Stock Up 3.6%

Shares of BTI opened at $50.84 on Friday. British American Tobacco p.l.c. has a 52 week low of $31.92 and a 52 week high of $50.89. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.52 and a current ratio of 0.76. The firm has a market capitalization of $104.98 billion, a P/E ratio of 10.44, a P/E/G ratio of 4.56 and a beta of 0.33. The company has a 50-day simple moving average of $46.20 and a 200-day simple moving average of $41.89.

British American Tobacco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, June 30th will be given a $0.7391 dividend. This represents a yield of 5.99%. The ex-dividend date of this dividend is Friday, June 27th. British American Tobacco’s dividend payout ratio (DPR) is presently 60.78%.

Analyst Ratings Changes

A number of equities analysts have commented on BTI shares. Bank of America began coverage on British American Tobacco in a research note on Wednesday, April 30th. They issued a “buy” rating for the company. Jefferies Financial Group assumed coverage on British American Tobacco in a report on Wednesday. They set a “buy” rating on the stock. Wall Street Zen cut British American Tobacco from a “buy” rating to a “hold” rating in a report on Sunday, July 6th. Finally, Barclays reissued an “overweight” rating on shares of British American Tobacco in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, British American Tobacco currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

About British American Tobacco

British American Tobacco p.l.c. engages in the provision of tobacco and nicotine products to consumers worldwide. It also offers vapour, heated, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company offers its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Camel, Natural American Spirit, Newport, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, State Express 555 and Shuang Xi brands.