QRG Capital Management Inc. Raises Holdings in British American Tobacco p.l.c. $BTI

QRG Capital Management Inc. grew its holdings in British American Tobacco p.l.c. (NYSE:BTI) by 13.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 202,261 shares of the company’s stock after buying an additional 24,727 shares during the quarter. QRG Capital Management Inc.’s holdings in British American Tobacco were worth $11,826,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital World Investors lifted its stake in shares of British American Tobacco by 12,870.7% in 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 during the period. Wealth High Governance Capital Ltda purchased a new stake in British American Tobacco during the fourth quarter worth about $6,911,000. Modern Wealth Management LLC acquired a new position in British American Tobacco during the third quarter worth about $14,771,000. Assetmark Inc. increased its holdings in British American Tobacco by 4.3% in the fourth quarter. Assetmark Inc. now owns 557,887 shares of the company’s stock valued at $31,588,000 after buying an additional 23,141 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of British American Tobacco by 74.6% during the 4th quarter. M&T Bank Corp now owns 102,703 shares of the company’s stock valued at $5,815,000 after acquiring an additional 43,886 shares during the period. Institutional investors and hedge funds own 16.16% of the company’s stock.

British American Tobacco Trading Up 0.1%

Shares of BTI opened at $61.83 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87. The company has a 50-day moving average of $61.39 and a two-hundred day moving average of $59.56. British American Tobacco p.l.c. has a 12-month low of $47.54 and a 12-month high of $67.30.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BTI. Weiss Ratings raised British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Wall Street Zen downgraded British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of British American Tobacco in a report on Monday, June 8th. Finally, Citigroup reissued a “buy” rating on shares of British American Tobacco in a report on Thursday, May 14th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.