British American Tobacco p.l.c. $BTI Shares Acquired by Callodine Capital Management LP

Callodine Capital Management LP boosted its position in British American Tobacco p.l.c. (NYSE:BTI) by 58.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,077,491 shares of the company’s stock after purchasing an additional 397,114 shares during the quarter. British American Tobacco comprises about 4.4% of Callodine Capital Management LP’s portfolio, making the stock its 5th biggest holding. Callodine Capital Management LP’s holdings in British American Tobacco were worth $63,001,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in shares of British American Tobacco by 0.5% during the fourth quarter. Capital International Investors now owns 64,389,481 shares of the company’s stock worth $3,645,500,000 after buying an additional 332,062 shares in the last quarter. Capital Research Global Investors grew its stake in shares of British American Tobacco by 1.2% in the fourth quarter. Capital Research Global Investors now owns 22,333,402 shares of the company’s stock valued at $1,264,512,000 after acquiring an additional 264,511 shares in the last quarter. Orbis Allan Gray Ltd increased its position in British American Tobacco by 20.7% during the second quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock worth $686,473,000 after acquiring an additional 2,482,737 shares during the period. Capital World Investors raised its stake in British American Tobacco by 0.5% in the 4th quarter. Capital World Investors now owns 9,518,567 shares of the company’s stock worth $538,935,000 after purchasing an additional 47,858 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in British American Tobacco by 29.5% in the 3rd quarter. Bank of America Corp DE now owns 6,934,792 shares of the company’s stock worth $368,099,000 after purchasing an additional 1,578,860 shares in the last quarter. Institutional investors own 16.16% of the company’s stock.

Analyst Ratings Changes

BTI has been the topic of a number of analyst reports. Wall Street Zen lowered shares of British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings upgraded shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. BTIG Research assumed coverage on British American Tobacco in a research report on Tuesday. They set a “buy” rating on the stock. Morgan Stanley restated an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a report on Thursday, May 14th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.00.

British American Tobacco Stock Up 1.8%

BTI stock opened at $60.89 on Friday. The company’s 50-day moving average price is $61.60 and its two-hundred day moving average price is $59.98. 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 p.l.c. has a 12 month low of $49.88 and a 12 month high of $67.30.

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.