Modern Wealth Management LLC Acquires New Holdings in British American Tobacco p.l.c. $BTI

Modern Wealth Management LLC acquired a new stake in British American Tobacco p.l.c. (NYSE:BTI) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 278,285 shares of the company’s stock, valued at approximately $14,771,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BTI. Pitcairn Co. increased its holdings in shares of British American Tobacco by 190.4% in the third quarter. Pitcairn Co. now owns 23,606 shares of the company’s stock worth $1,253,000 after acquiring an additional 15,477 shares in the last quarter. Perennial Investment Advisors LLC lifted its holdings in shares of British American Tobacco by 8.1% during the 3rd quarter. Perennial Investment Advisors LLC now owns 6,256 shares of the company’s stock valued at $332,000 after purchasing an additional 468 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in shares of British American Tobacco by 53.2% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 141,815 shares of the company’s stock valued at $7,528,000 after purchasing an additional 49,240 shares during the period. Insigneo Advisory Services LLC increased its stake in British American Tobacco by 13.2% during the 3rd quarter. Insigneo Advisory Services LLC now owns 9,355 shares of the company’s stock worth $497,000 after purchasing an additional 1,088 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in British American Tobacco by 14.2% during the 3rd quarter. First Eagle Investment Management LLC now owns 1,284,550 shares of the company’s stock worth $68,184,000 after purchasing an additional 160,048 shares in the last quarter. 16.16% of the stock is currently owned by institutional investors.

British American Tobacco Price Performance

Shares of BTI stock opened at $57.81 on Friday. The firm’s fifty day moving average price is $59.10 and its two-hundred day moving average price is $56.39. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 0.66. British American Tobacco p.l.c. has a 1 year low of $37.96 and a 1 year high of $63.22.

British American Tobacco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be given a $0.8349 dividend. The ex-dividend date of this dividend is Tuesday, December 29th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 5.8%.

Analysts Set New Price Targets

A number of brokerages have weighed in on BTI. Kepler Capital Markets assumed coverage on shares of British American Tobacco in a research note on Friday, December 12th. They issued a “buy” rating on the stock. Morgan Stanley restated an “underweight” rating on shares of British American Tobacco in a report on Wednesday, December 10th. Wall Street Zen raised shares of British American Tobacco from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup reissued a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of British American Tobacco in a research report 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.00.

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.