Gabelli Funds LLC Takes Position in British American Tobacco p.l.c. $BTI

Gabelli Funds LLC purchased a new position in shares of British American Tobacco p.l.c. (NYSE:BTI) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 76,000 shares of the company’s stock, valued at approximately $4,444,000.

Several other institutional investors have also bought and sold shares of BTI. Wealth High Governance Capital Ltda purchased a new position in shares of British American Tobacco during the 4th quarter valued at $6,911,000. Assetmark Inc. increased its holdings in British American Tobacco by 4.3% in the 4th quarter. Assetmark Inc. now owns 557,887 shares of the company’s stock worth $31,588,000 after acquiring an additional 23,141 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in British American Tobacco by 284.8% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 26,274 shares of the company’s stock valued at $1,488,000 after acquiring an additional 19,446 shares during the period. M&T Bank Corp raised its stake in British American Tobacco by 74.6% in 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. Finally, Bessemer Group Inc. lifted its holdings in British American Tobacco by 1,039.9% during the first quarter. Bessemer Group Inc. now owns 27,130 shares of the company’s stock valued at $1,586,000 after purchasing an additional 24,750 shares during the last quarter. Hedge funds and other institutional investors own 16.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating on shares of British American Tobacco in a research report on Monday, June 8th. Wall Street Zen cut shares of British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. BTIG Research assumed coverage on shares of British American Tobacco in a report on Tuesday, July 21st. They issued a “buy” rating for the company. Weiss Ratings upgraded British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Finally, Citigroup reaffirmed 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. According to MarketBeat.com, British American Tobacco has an average rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Price Performance

Shares of NYSE:BTI opened at $62.34 on Wednesday. The firm has a fifty day moving average price of $61.41 and a two-hundred day moving average price of $60.13. 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 one year low of $49.88 and a one year high of $67.30.

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.