British American Tobacco (NYSE:BTI) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of British American Tobacco (NYSE:BTI) from a buy rating to a hold rating in a report published on Sunday.

BTI has been the subject of a number of other reports. Citigroup reissued a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. BTIG Research initiated coverage on British American Tobacco in a research note on Tuesday, July 21st. They set a “buy” rating for the company. Weiss Ratings raised British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Finally, Morgan Stanley restated an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, British American Tobacco currently has an average rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Trading Down 0.4%

NYSE:BTI opened at $56.84 on Friday. British American Tobacco has a 12 month low of $49.88 and a 12 month high of $67.30. The company has a quick ratio of 0.50, a current ratio of 0.84 and a debt-to-equity ratio of 0.64. The firm’s 50 day moving average is $60.58 and its 200 day moving average is $60.32.

Institutional Investors Weigh In On British American Tobacco

A number of hedge funds and other institutional investors have recently bought and sold shares of BTI. Capital International Investors boosted its holdings in shares of British American Tobacco by 0.5% in the fourth quarter. Capital International Investors now owns 64,389,481 shares of the company’s stock worth $3,645,500,000 after acquiring an additional 332,062 shares during the period. Capital Research Global Investors raised its stake in shares of British American Tobacco by 1.2% during the 4th quarter. Capital Research Global Investors now owns 22,333,402 shares of the company’s stock valued at $1,264,512,000 after purchasing an additional 264,511 shares during the period. Orbis Allan Gray Ltd lifted its holdings in British American Tobacco by 20.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock worth $686,473,000 after purchasing an additional 2,482,737 shares in the last quarter. Bank of America Corp DE boosted its stake in British American Tobacco by 34.4% in the 1st quarter. Bank of America Corp DE now owns 9,736,843 shares of the company’s stock worth $569,313,000 after purchasing an additional 2,494,576 shares during the period. Finally, Capital World Investors boosted its stake in British American Tobacco by 0.5% in the 4th quarter. Capital World Investors now owns 9,518,567 shares of the company’s stock worth $538,935,000 after purchasing an additional 47,858 shares during the period. 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.