Summit Securities Group LLC Cuts Stock Position in British American Tobacco p.l.c. $BTI

Summit Securities Group LLC lessened its holdings in British American Tobacco p.l.c. (NYSE:BTI) by 97.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 500 shares of the company’s stock after selling 20,800 shares during the period. Summit Securities Group LLC’s holdings in British American Tobacco were worth $29,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. First Command Advisory Services Inc. grew its stake in shares of British American Tobacco by 1,386.7% in the 4th quarter. First Command Advisory Services Inc. now owns 446 shares of the company’s stock worth $25,000 after buying an additional 416 shares in the last quarter. Glen Eagle Advisors LLC purchased a new stake in shares of British American Tobacco during the 4th quarter valued at about $26,000. Cary Street Partners Financial LLC bought a new position in shares of British American Tobacco in the 2nd quarter valued at about $30,000. SHP Wealth Management bought a new position in shares of British American Tobacco in the 4th quarter valued at about $35,000. Finally, Cornerstone Planning Group LLC grew its position in British American Tobacco by 141.2% in the fourth quarter. Cornerstone Planning Group LLC now owns 591 shares of the company’s stock worth $36,000 after acquiring an additional 346 shares in the last quarter. Institutional investors own 16.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen cut British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Morgan Stanley reiterated an “overweight” rating on shares of British American Tobacco in a report on Monday, June 8th. Citigroup reissued a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Finally, Weiss Ratings upgraded British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Six 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

British American Tobacco Stock Down 1.4%

Shares of BTI stock traded down $0.86 during trading hours on Friday, reaching $60.01. 2,452,597 shares of the stock were exchanged, compared to its average volume of 4,155,328. British American Tobacco p.l.c. has a 12-month low of $49.88 and a 12-month high of $67.30. The company’s 50-day moving average price is $61.72 and its 200-day moving average price is $59.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57.

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.