JPMorgan Chase & Co. Raises Stake in British American Tobacco p.l.c. $BTI

JPMorgan Chase & Co. raised its stake in British American Tobacco p.l.c. (NYSE:BTI) by 201.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,748,324 shares of the company’s stock after acquiring an additional 1,837,106 shares during the quarter. JPMorgan Chase & Co.’s holdings in British American Tobacco were worth $130,078,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers boosted its position in British American Tobacco by 14.4% during the first quarter. Cetera Investment Advisers now owns 200,589 shares of the company’s stock worth $8,298,000 after purchasing an additional 25,208 shares during the period. HB Wealth Management LLC grew its position in shares of British American Tobacco by 47.3% during the 1st quarter. HB Wealth Management LLC now owns 10,156 shares of the company’s stock valued at $420,000 after purchasing an additional 3,259 shares in the last quarter. LPL Financial LLC increased its stake in British American Tobacco by 12.3% in the 1st quarter. LPL Financial LLC now owns 830,658 shares of the company’s stock worth $34,364,000 after acquiring an additional 91,247 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of British American Tobacco by 5.6% in the first quarter. Federated Hermes Inc. now owns 160,412 shares of the company’s stock worth $6,636,000 after purchasing an additional 8,541 shares during the last quarter. Finally, XTX Topco Ltd increased its position in British American Tobacco by 161.3% during the 1st quarter. XTX Topco Ltd now owns 73,179 shares of the company’s stock valued at $3,027,000 after purchasing an additional 45,170 shares during the period. Institutional investors own 16.16% of the company’s stock.

British American Tobacco Stock Up 2.0%

NYSE:BTI opened at $57.80 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68. The firm has a fifty day simple moving average of $53.05 and a 200-day simple moving average of $51.84. British American Tobacco p.l.c. has a 12 month low of $34.82 and a 12 month high of $59.29.

Wall Street Analyst Weigh In

BTI has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an “underweight” rating and set a $40.00 target price on shares of British American Tobacco in a research note on Friday, August 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of British American Tobacco in a research report on Wednesday, October 8th. Argus upgraded British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Monday, September 8th. Finally, Royal Bank Of Canada downgraded shares of British American Tobacco from a “sector perform” rating to an “underperform” rating in a report on Tuesday, September 2nd. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $51.00.

About British American Tobacco

British American Tobacco p.l.c. engages in the provision of tobacco and nicotine products to consumers worldwide. It also offers vapour, heated, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company offers its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Camel, Natural American Spirit, Newport, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, State Express 555 and Shuang Xi brands.