British American Tobacco (NYSE:BTI) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of British American Tobacco (NYSE:BTI) from a buy rating to a hold rating in a research report released on Sunday.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings raised shares of British American Tobacco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Kepler Capital Markets began coverage on shares of British American Tobacco in a research report on Friday, December 12th. They issued a “buy” rating for the company. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of British American Tobacco in a research report on Wednesday, December 10th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, British American Tobacco has an average rating of “Moderate Buy” and a consensus target price of $51.00.

British American Tobacco Stock Down 0.0%

Shares of BTI stock opened at $58.71 on Friday. British American Tobacco has a 52-week low of $39.07 and a 52-week high of $63.22. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. The company has a 50-day simple moving average of $59.91 and a two-hundred day simple moving average of $56.71.

British American Tobacco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be issued a $0.8349 dividend. The ex-dividend date of this dividend is Tuesday, December 29th. This represents a $3.34 annualized dividend and a yield of 5.7%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. WCM Investment Management LLC bought a new position in British American Tobacco in the 3rd quarter worth approximately $1,612,000. Lockheed Martin Investment Management Co. boosted its holdings in British American Tobacco by 44.3% in the 3rd quarter. Lockheed Martin Investment Management Co. now owns 421,800 shares of the company’s stock worth $22,389,000 after buying an additional 129,500 shares during the period. Truist Financial Corp boosted its holdings in British American Tobacco by 6.0% in the 3rd quarter. Truist Financial Corp now owns 427,284 shares of the company’s stock worth $22,680,000 after buying an additional 24,114 shares during the period. AdvisorShares Investments LLC lifted its stake in British American Tobacco by 252.5% in the 3rd quarter. AdvisorShares Investments LLC now owns 24,846 shares of the company’s stock worth $1,319,000 after purchasing an additional 17,798 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in British American Tobacco by 8.7% in the 3rd quarter. Federated Hermes Inc. now owns 3,779,137 shares of the company’s stock worth $200,597,000 after purchasing an additional 303,136 shares in the last quarter. 16.16% of the stock is owned by institutional investors.

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.