Cullen Capital Management LLC Sells 67,122 Shares of British American Tobacco p.l.c. $BTI

Cullen Capital Management LLC cut its holdings in British American Tobacco p.l.c. (NYSE:BTI) by 4.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,334,800 shares of the company’s stock after selling 67,122 shares during the quarter. Cullen Capital Management LLC’s holdings in British American Tobacco were worth $70,851,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC bought a new position in British American Tobacco during the third quarter worth $29,000. Cary Street Partners Financial LLC acquired a new position in shares of British American Tobacco during the second quarter valued at about $30,000. Salem Investment Counselors Inc. grew its stake in shares of British American Tobacco by 48.6% in the 3rd quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock valued at $34,000 after buying an additional 207 shares during the period. Westside Investment Management Inc. increased its position in British American Tobacco by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 782 shares of the company’s stock valued at $41,000 after buying an additional 391 shares in the last quarter. Finally, City Holding Co. acquired a new position in British American Tobacco during the 3rd quarter worth approximately $42,000. Institutional investors own 16.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BTI shares. Morgan Stanley restated an “underweight” rating on shares of British American Tobacco in a report on Wednesday, December 10th. Weiss Ratings restated a “hold (c+)” rating on shares of British American Tobacco in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Kepler Capital Markets assumed coverage on shares of British American Tobacco in a research report on Friday, December 12th. They set a “buy” rating for the company. Finally, Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, British American Tobacco currently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

British American Tobacco Stock Performance

Shares of BTI stock opened at $61.60 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. British American Tobacco p.l.c. has a 52 week low of $37.31 and a 52 week high of $62.65. The firm’s 50-day simple moving average is $57.60 and its two-hundred day simple moving average is $55.49.

British American Tobacco Company 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.