Manning & Napier Advisors LLC Trims Stake in British American Tobacco p.l.c. $BTI

Manning & Napier Advisors LLC trimmed its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,788 shares of the company’s stock after selling 10,395 shares during the quarter. Manning & Napier Advisors LLC’s holdings in British American Tobacco were worth $9,490,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. City State Bank raised its position in British American Tobacco by 10.5% during the 3rd quarter. City State Bank now owns 2,105 shares of the company’s stock worth $112,000 after buying an additional 200 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in British American Tobacco by 48.6% during the third quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock worth $34,000 after purchasing an additional 207 shares in the last quarter. Western Wealth Management LLC lifted its position in British American Tobacco by 2.5% in the second quarter. Western Wealth Management LLC now owns 8,656 shares of the company’s stock valued at $410,000 after purchasing an additional 208 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in British American Tobacco by 1.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 19,598 shares of the company’s stock valued at $915,000 after purchasing an additional 223 shares in the last quarter. Finally, Mission Wealth Management LP raised its stake in shares of British American Tobacco by 2.1% during the 2nd quarter. Mission Wealth Management LP now owns 10,839 shares of the company’s stock worth $513,000 after buying an additional 226 shares in the last quarter. 16.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on BTI shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of British American Tobacco in a report on Wednesday, October 8th. Morgan Stanley reiterated an “underweight” rating on shares of British American Tobacco in a research report on Wednesday, December 10th. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Finally, Kepler Capital Markets initiated coverage on shares of British American Tobacco in a report on Friday, December 12th. They issued a “buy” rating on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.00.

British American Tobacco Stock Performance

BTI opened at $56.59 on Wednesday. British American Tobacco p.l.c. has a 12 month low of $35.19 and a 12 month high of $59.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.55 and a current ratio of 0.87. The business has a 50-day moving average of $56.28 and a two-hundred day moving average of $54.45.

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.