Prudential Financial Inc. bought a new stake in British American Tobacco PLC (NYSE:BTI) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 58,325 shares of the company’s stock, valued at approximately $2,720,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC raised its stake in shares of British American Tobacco by 2.9% during the 2nd quarter. Sterling Capital Management LLC now owns 33,253 shares of the company’s stock valued at $1,678,000 after purchasing an additional 948 shares during the period. OmniStar Financial Group Inc. raised its stake in shares of British American Tobacco by 13.4% during the 2nd quarter. OmniStar Financial Group Inc. now owns 8,529 shares of the company’s stock valued at $430,000 after purchasing an additional 1,005 shares during the period. Intrust Bank NA raised its stake in shares of British American Tobacco by 8.2% during the 2nd quarter. Intrust Bank NA now owns 16,144 shares of the company’s stock valued at $815,000 after purchasing an additional 1,221 shares during the period. Whittier Trust Co. raised its stake in shares of British American Tobacco by 0.7% during the 3rd quarter. Whittier Trust Co. now owns 207,354 shares of the company’s stock valued at $9,669,000 after purchasing an additional 1,397 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of British American Tobacco by 84.5% during the 3rd quarter. Parallel Advisors LLC now owns 3,134 shares of the company’s stock valued at $146,000 after purchasing an additional 1,435 shares during the period. Hedge funds and other institutional investors own 7.36% of the company’s stock.

British American Tobacco stock opened at $33.08 on Friday. British American Tobacco PLC has a 52 week low of $33.00 and a 52 week high of $71.44. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.81 and a quick ratio of 0.41. The stock has a market cap of $70.49 billion, a P/E ratio of 8.99 and a beta of 0.94.

A number of research firms recently issued reports on BTI. Jefferies Financial Group lowered British American Tobacco to a “buy” rating in a research note on Friday, August 24th. Royal Bank of Canada lowered British American Tobacco to an “underperform” rating in a research note on Monday, September 3rd. Zacks Investment Research upgraded British American Tobacco from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. Sanford C. Bernstein began coverage on British American Tobacco in a research note on Tuesday, October 16th. They set a “market perform” rating on the stock. Finally, DZ Bank reiterated a “sell” rating on shares of British American Tobacco in a research note on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. British American Tobacco currently has an average rating of “Hold” and an average price target of $73.00.

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British American Tobacco 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 and moist snuff; cigars; and e-cigarettes. The company offers its products under the Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, 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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