British American Tobacco PLC (NYSE:BTI) shares gapped up before the market opened on Tuesday . The stock had previously closed at $123.72, but opened at $123.75. British American Tobacco PLC shares last traded at $124.62, with a volume of 127,074 shares traded.

BTI has been the topic of a number of recent research reports. Zacks Investment Research upgraded British American Tobacco PLC from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a research note on Wednesday, June 22nd. Berenberg Bank cut British American Tobacco PLC from a “buy” rating to a “hold” rating in a research note on Thursday, July 7th. Societe Generale cut British American Tobacco PLC from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Barclays PLC cut British American Tobacco PLC from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 8th. Finally, Credit Agricole SA cut British American Tobacco PLC from an “outperform” rating to an “underperform” rating in a research note on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. British American Tobacco PLC presently has a consensus rating of “Hold” and an average price target of $139.00.

The firm has a market cap of $116.01 billion and a price-to-earnings ratio of 20.25. The company has a 50-day moving average of $126.38 and a 200-day moving average of $122.60.

Several hedge funds have recently bought and sold shares of BTI. BlackRock Investment Management LLC raised its stake in British American Tobacco PLC by 33.2% in the second quarter. BlackRock Investment Management LLC now owns 572,329 shares of the company’s stock valued at $74,105,000 after buying an additional 142,698 shares during the last quarter. Todd Asset Management LLC raised its stake in shares of British American Tobacco PLC by 1,094.5% in the second quarter. Todd Asset Management LLC now owns 138,306 shares of the company’s stock worth $17,908,000 after buying an additional 126,727 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in shares of British American Tobacco PLC during the second quarter worth $14,385,000. Jefferies Group LLC bought a new stake in shares of British American Tobacco PLC during the second quarter worth $12,975,000. Finally, Glenmede Trust Co. NA raised its stake in shares of British American Tobacco PLC by 1,188.8% in the second quarter. Glenmede Trust Co. NA now owns 57,972 shares of the company’s stock worth $7,505,000 after buying an additional 53,474 shares in the last quarter.

About British American Tobacco PLC

British American Tobacco p.l.c. is a tobacco company. The Company is engaged in manufacturing and marketing cigarettes and other tobacco products. Its segments include Asia-Pacific, Americas, Western Europe, and Eastern Europe, Middle East and Africa (EEMEA). The Company’s brands include Dunhill, Kent, Lucky Strike, Pall Mall and Rothmans.

5 Day Chart for NYSE:BTI

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