Legacy Financial Advisors Inc. Takes $852,000 Position in British American Tobacco p.l.c. $BTI

Legacy Financial Advisors Inc. purchased a new stake in British American Tobacco p.l.c. (NYSE:BTI) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 16,050 shares of the company’s stock, valued at approximately $852,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BTI. True Wealth Design LLC bought a new stake in shares of British American Tobacco during the 3rd quarter worth about $29,000. Cary Street Partners Financial LLC bought a new position in British American Tobacco in the second quarter valued at approximately $30,000. Salem Investment Counselors Inc. raised its holdings in shares of British American Tobacco by 48.6% during the 3rd quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock worth $34,000 after buying an additional 207 shares in the last quarter. Westside Investment Management Inc. increased its position in British American Tobacco by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 782 shares of the company’s stock worth $41,000 after purchasing an additional 391 shares in the last quarter. Finally, City Holding Co. bought a new position in shares of British American Tobacco in the 3rd quarter valued at $42,000. 16.16% of the stock is owned by institutional investors.

British American Tobacco Stock Performance

NYSE BTI opened at $62.15 on Tuesday. British American Tobacco p.l.c. has a twelve month low of $37.96 and a twelve month high of $63.03. The stock’s 50-day simple moving average is $58.36 and its two-hundred day simple moving average is $56.15. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87.

British American Tobacco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be given a dividend of $0.8349 per share. The ex-dividend date is Tuesday, December 29th. This represents a $3.34 annualized dividend and a dividend yield of 5.4%.

Analyst Ratings Changes

BTI has been the topic of a number of analyst reports. Morgan Stanley reiterated an “underweight” rating on shares of British American Tobacco in a research report on Wednesday, December 10th. Weiss Ratings upgraded shares of British American Tobacco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Kepler Capital Markets initiated coverage on British American Tobacco in a research note on Friday, December 12th. They issued a “buy” rating on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Eight research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

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.