British American Tobacco (NYSE:BTI) Coverage Initiated at StockNews.com

Posted by on May 18th, 2023

Analysts at StockNews.com began coverage on shares of British American Tobacco (NYSE:BTI – Get Rating) in a report issued on Thursday. The firm set a “buy” rating on the stock.

Separately, JPMorgan Chase & Co. lowered British American Tobacco from an “overweight” rating to a “neutral” rating in a research note on Monday, March 13th.

British American Tobacco Price Performance

Shares of NYSE BTI opened at $33.41 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.86 and a quick ratio of 0.55. The company’s 50-day moving average price is $35.71 and its 200 day moving average price is $38.00. British American Tobacco has a 52 week low of $33.23 and a 52 week high of $45.28.

Institutional Investors Weigh In On British American Tobacco

Hedge funds and other institutional investors have recently modified their holdings of the company. Ausdal Financial Partners Inc. grew its stake in British American Tobacco by 2.2% in the 3rd quarter. Ausdal Financial Partners Inc. now owns 12,185 shares of the company’s stock worth $433,000 after acquiring an additional 264 shares during the period. Cadence Bank increased its stake in British American Tobacco by 4.2% in the third quarter. Cadence Bank now owns 6,854 shares of the company’s stock valued at $243,000 after purchasing an additional 277 shares during the last quarter. Avantax Advisory Services Inc. boosted its stake in British American Tobacco by 1.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 18,028 shares of the company’s stock worth $633,000 after buying an additional 281 shares during the last quarter. IFG Advisory LLC increased its stake in shares of British American Tobacco by 1.7% during the 4th quarter. IFG Advisory LLC now owns 17,598 shares of the company’s stock valued at $703,000 after acquiring an additional 294 shares during the last quarter. Finally, Meridian Investment Counsel Inc. boosted its position in shares of British American Tobacco by 0.8% in the first quarter. Meridian Investment Counsel Inc. now owns 38,412 shares of the company’s stock worth $1,349,000 after acquiring an additional 300 shares during the last quarter. 6.37% of the stock is currently owned by hedge funds and other institutional investors.

British American Tobacco Company Profile

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British American Tobacco plc is a holding company, which engages in the manufacture and distribution of tobacco products. Its brands include Kent, Dunhill, Lucky Strike, and Pall Mall. It operates through the following geographical segments: United States, Asia-Pacific and Middle East (APME), Americas and Sub-Saharan Africa (AMSSA), and Europe and North Africa (ENA).

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