Procyon Advisors LLC Makes New $760,000 Investment in British American Tobacco p.l.c. $BTI

Procyon Advisors LLC bought a new position in British American Tobacco p.l.c. (NYSE:BTI) during the first quarter, HoldingsChannel.com reports. The fund bought 13,001 shares of the company’s stock, valued at approximately $760,000.

Several other hedge funds have also recently made changes to their positions in the business. Orbis Allan Gray Ltd lifted its holdings in shares of British American Tobacco by 20.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock valued at $686,473,000 after acquiring an additional 2,482,737 shares during the last quarter. Bank of America Corp DE increased its stake in British American Tobacco by 29.5% during the third quarter. Bank of America Corp DE now owns 6,934,792 shares of the company’s stock worth $368,099,000 after acquiring an additional 1,578,860 shares during the last quarter. Raymond James Financial Inc. raised its position in British American Tobacco by 85.1% during the second quarter. Raymond James Financial Inc. now owns 2,757,559 shares of the company’s stock valued at $130,515,000 after purchasing an additional 1,267,425 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of British American Tobacco in the 3rd quarter valued at approximately $47,852,000. Finally, SG Americas Securities LLC boosted its holdings in shares of British American Tobacco by 771.1% in the 4th quarter. SG Americas Securities LLC now owns 739,687 shares of the company’s stock worth $41,881,000 after purchasing an additional 654,769 shares during the period. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wall Street Zen downgraded British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings upgraded British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Morgan Stanley reiterated an “overweight” rating on shares of British American Tobacco in a research report on Monday, June 8th. Finally, Citigroup reissued a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, British American Tobacco currently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Stock Down 1.3%

Shares of NYSE BTI opened at $58.20 on Wednesday. British American Tobacco p.l.c. has a twelve month low of $49.88 and a twelve month high of $67.30. The business has a fifty day simple moving average of $61.70 and a two-hundred day simple moving average of $59.74. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66.

British American Tobacco Profile

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.