Pitcairn Co. Purchases 15,477 Shares of British American Tobacco p.l.c. $BTI

Pitcairn Co. lifted its position in shares of British American Tobacco p.l.c. (NYSE:BTI) by 190.4% in the third quarter, Holdings Channel reports. The institutional investor owned 23,606 shares of the company’s stock after acquiring an additional 15,477 shares during the period. Pitcairn Co.’s holdings in British American Tobacco were worth $1,253,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. True Wealth Design LLC bought a new position in British American Tobacco during the third quarter worth about $29,000. Cary Street Partners Financial LLC bought a new stake in British American Tobacco in the 2nd quarter valued at about $30,000. Salem Investment Counselors Inc. grew its position in shares of British American Tobacco by 48.6% during the 3rd 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. Westside Investment Management Inc. increased its holdings in shares of British American Tobacco by 100.0% during the third quarter. Westside Investment Management Inc. now owns 782 shares of the company’s stock worth $41,000 after purchasing an additional 391 shares during the period. Finally, City Holding Co. acquired a new stake in shares of British American Tobacco in the third quarter valued at approximately $42,000. 16.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wall Street Zen upgraded British American Tobacco from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley reissued an “underweight” rating on shares of British American Tobacco in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Kepler Capital Markets started coverage on shares of British American Tobacco in a research report on Friday, December 12th. They set a “buy” rating for the company. Finally, Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Eight analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.00.

British American Tobacco Stock Down 1.3%

NYSE:BTI opened at $57.81 on Friday. British American Tobacco p.l.c. has a twelve month low of $37.96 and a twelve month high of $63.22. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. The stock’s 50-day simple moving average is $59.10 and its 200 day simple moving average is $56.39.

British American Tobacco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be given a dividend of $0.8349 per share. This represents a $3.34 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Tuesday, December 29th.

British American Tobacco 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.