Access Investment Management LLC Acquires Shares of 12,495 British American Tobacco p.l.c. $BTI

Access Investment Management LLC bought a new position in shares of British American Tobacco p.l.c. (NYSE:BTI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,495 shares of the company’s stock, valued at approximately $591,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BTI. Orbis Allan Gray Ltd lifted its stake in shares of British American Tobacco by 20.4% during the first quarter. Orbis Allan Gray Ltd now owns 12,021,231 shares of the company’s stock worth $497,318,000 after buying an additional 2,040,011 shares during the period. GQG Partners LLC lifted its holdings in British American Tobacco by 59.8% in the 1st quarter. GQG Partners LLC now owns 9,598,465 shares of the company’s stock valued at $397,089,000 after purchasing an additional 3,590,916 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of British American Tobacco by 93.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,792,258 shares of the company’s stock worth $132,158,000 after purchasing an additional 1,345,175 shares during the last quarter. Newport Trust Company LLC raised its holdings in shares of British American Tobacco by 1.1% during the 1st quarter. Newport Trust Company LLC now owns 2,774,460 shares of the company’s stock worth $114,779,000 after acquiring an additional 31,205 shares during the period. Finally, Northern Trust Corp grew its position in British American Tobacco by 1.5% in the first quarter. Northern Trust Corp now owns 2,473,942 shares of the company’s stock worth $102,347,000 after acquiring an additional 35,926 shares during the period. 16.16% of the stock is currently owned by institutional investors.

British American Tobacco Stock Down 0.1%

BTI opened at $51.25 on Monday. British American Tobacco p.l.c. has a 12-month low of $34.24 and a 12-month high of $59.29. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. The firm’s fifty day moving average price is $53.58 and its 200 day moving average price is $50.39.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BTI shares. Wall Street Zen lowered shares of British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Argus raised shares of British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Monday, September 8th. Royal Bank Of Canada downgraded shares of British American Tobacco from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, September 2nd. Morgan Stanley reiterated an “underweight” rating and issued a $40.00 target price on shares of British American Tobacco in a research note on Friday, August 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of British American Tobacco in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, British American Tobacco currently has an average rating of “Hold” and an average price target of $51.00.

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.