Icon Advisers Inc. Co. acquired a new position in shares of British American Tobacco PLC (NYSE:BTI) during the second quarter, Holdings Channel reports. The institutional investor acquired 34,400 shares of the company’s stock, valued at approximately $1,200,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BTI. Cullen Frost Bankers Inc. grew its stake in shares of British American Tobacco by 83.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 754 shares of the company’s stock worth $26,000 after purchasing an additional 342 shares during the period. Lenox Wealth Management Inc. grew its stake in shares of British American Tobacco by 153.3% during the 1st quarter. Lenox Wealth Management Inc. now owns 775 shares of the company’s stock worth $32,000 after purchasing an additional 469 shares during the period. Next Capital Management LLC acquired a new stake in shares of British American Tobacco during the 2nd quarter worth approximately $34,000. Alera Investment Advisors LLC grew its stake in shares of British American Tobacco by 50.1% during the 1st quarter. Alera Investment Advisors LLC now owns 833 shares of the company’s stock worth $35,000 after purchasing an additional 278 shares during the period. Finally, Enterprise Financial Services Corp grew its stake in shares of British American Tobacco by 141.7% during the 1st quarter. Enterprise Financial Services Corp now owns 863 shares of the company’s stock worth $36,000 after purchasing an additional 506 shares during the period. 6.12% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on BTI shares. Piper Jaffray Companies cut shares of British American Tobacco from an “overweight” rating to a “neutral” rating in a research note on Thursday, July 11th. Zacks Investment Research raised shares of British American Tobacco from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley cut shares of British American Tobacco from an “equal” rating to an “underweight” rating in a research note on Monday, June 17th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $53.00.

British American Tobacco stock traded down $0.26 during trading on Friday, reaching $36.73. The company had a trading volume of 1,224,700 shares, compared to its average volume of 1,831,292. The firm’s 50-day simple moving average is $36.98 and its 200 day simple moving average is $37.84. British American Tobacco PLC has a 1-year low of $30.67 and a 1-year high of $54.19. The firm has a market capitalization of $77.18 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.39 and a current ratio of 0.73.

British American Tobacco Company Profile

British American Tobacco p.l.c. provides cigarettes and other tobacco products worldwide. It manufactures vapour and tobacco heating products; oral tobacco and nicotine products, such as snus, tobacco-free nicotine pouches, and moist snuff; cigars; and e-cigarettes. The company offers its products under the Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Camel, Natural American Spirit, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, Benson & Hedges, John Player Gold Leaf, State Express 555, and Shuang Xi brands.

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Institutional Ownership by Quarter for British American Tobacco (NYSE:BTI)

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