British American Tobacco (NYSE:BTI) Sets New 12-Month High – Still a Buy?

British American Tobacco p.l.c. (NYSE:BTI) hit a new 52-week high during trading on Tuesday . The stock traded as high as $63.57 and last traded at $63.4320, with a volume of 4079022 shares traded. The stock had previously closed at $60.44.

Wall Street Analyst Weigh In

BTI has been the subject of several research reports. Weiss Ratings raised British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Wall Street Zen cut shares of British American Tobacco from a “buy” rating to a “hold” rating in a research note on Sunday, April 5th. Seven research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, British American Tobacco currently has an average rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Stock Up 5.1%

The firm has a fifty day simple moving average of $58.56 and a 200 day simple moving average of $57.65. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66.

British American Tobacco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, December 29th will be paid a dividend of $0.8349 per share. The ex-dividend date is Tuesday, December 29th. This represents a $3.34 dividend on an annualized basis and a yield of 5.3%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital World Investors boosted its holdings in British American Tobacco by 12,870.7% during the third quarter. Capital World Investors now owns 9,470,709 shares of the company’s stock valued at $502,687,000 after purchasing an additional 9,397,693 shares in the last quarter. Orbis Allan Gray Ltd grew its position in British American Tobacco by 20.7% in the second quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock valued at $686,473,000 after acquiring an additional 2,482,737 shares during the period. WCM Investment Management LLC lifted its holdings in shares of British American Tobacco by 3,899.7% during the first quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company’s stock valued at $137,658,000 after acquiring an additional 2,303,743 shares during the period. Capital International Investors grew its holdings in shares of British American Tobacco by 3.0% in the 3rd quarter. Capital International Investors now owns 64,057,419 shares of the company’s stock worth $3,399,352,000 after purchasing an additional 1,891,042 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in British American Tobacco by 29.5% during the 3rd quarter. Bank of America Corp DE now owns 6,934,792 shares of the company’s stock valued at $368,099,000 after purchasing an additional 1,578,860 shares during the last quarter. Institutional investors and hedge funds own 16.16% of the company’s stock.

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.