FNY Investment Advisers LLC Decreases Holdings in British American Tobacco p.l.c. $BTI

FNY Investment Advisers LLC lowered its position in British American Tobacco p.l.c. (NYSE:BTI) by 80.7% during the second quarter, HoldingsChannel.com reports. The fund owned 5,300 shares of the company’s stock after selling 22,100 shares during the quarter. FNY Investment Advisers LLC’s holdings in British American Tobacco were worth $327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Command Advisory Services Inc. raised its stake in shares of British American Tobacco by 1,386.7% during 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 during the last quarter. Glen Eagle Advisors LLC purchased a new stake in shares of British American Tobacco in the 4th quarter worth about $26,000. Cornerstone Planning Group LLC grew its stake in 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 acquiring an additional 346 shares during the last quarter. SHP Wealth Management purchased a new position in British American Tobacco during the 4th quarter valued at about $35,000. Finally, Cary Street Partners Financial LLC acquired a new position in British American Tobacco during the second quarter worth about $30,000. 16.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BTIG Research began coverage on shares of British American Tobacco in a report on Tuesday, July 21st. They issued a “buy” rating on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Weiss Ratings upgraded British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Wall Street Zen raised British American Tobacco from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Citigroup restated a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

British American Tobacco Price Performance

BTI opened at $59.38 on Friday. British American Tobacco p.l.c. has a 1 year low of $49.88 and a 1 year high of $67.30. The company’s 50 day simple moving average is $60.73 and its 200 day simple moving average is $60.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.84 and a quick ratio of 0.50.

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.