British American Tobacco (NYSE:BTI) Sets New 1-Year High – Here’s Why

British American Tobacco p.l.c. (NYSE:BTI) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $63.08 and last traded at $62.8950, with a volume of 2401118 shares changing hands. The stock had previously closed at $61.91.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BTI. Morgan Stanley reiterated an “underweight” rating on shares of British American Tobacco in a research note on Wednesday, December 10th. Weiss Ratings raised British American Tobacco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Kepler Capital Markets assumed coverage on British American Tobacco in a research note on Friday, December 12th. They set a “buy” rating for the company. Finally, Citigroup restated a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Eight investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

British American Tobacco Stock Down 0.0%

The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $58.68 and a two-hundred day moving average price of $56.27.

British American Tobacco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, December 29th will be paid a $0.8349 dividend. The ex-dividend date of this dividend is Tuesday, December 29th. This represents a $3.34 dividend on an annualized basis and a yield of 5.3%.

Institutional Investors Weigh In On British American Tobacco

Large investors have recently bought and sold shares of the business. First Command Advisory Services Inc. grew its stake in shares of British American Tobacco by 1,386.7% in the 4th quarter. First Command Advisory Services Inc. now owns 446 shares of the company’s stock worth $25,000 after buying an additional 416 shares in the last quarter. Glen Eagle Advisors LLC purchased a new position in British American Tobacco in the fourth quarter worth about $26,000. True Wealth Design LLC bought a new stake in British American Tobacco during the third quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its stake in shares of British American Tobacco by 141.2% in the 4th quarter. Cornerstone Planning Group LLC now owns 591 shares of the company’s stock valued at $36,000 after purchasing an additional 346 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new position in shares of British American Tobacco in the 2nd quarter worth approximately $30,000. Institutional investors own 16.16% of the company’s stock.

About British American Tobacco

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world’s largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT’s core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.