CNB Bank Trims Holdings in British American Tobacco p.l.c. (NYSE:BTI)

CNB Bank lowered its position in British American Tobacco p.l.c. (NYSE:BTI) by 38.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,766 shares of the company’s stock after selling 2,991 shares during the period. CNB Bank’s holdings in British American Tobacco were worth $197,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. PDS Planning Inc boosted its holdings in shares of British American Tobacco by 15.5% in the 1st quarter. PDS Planning Inc now owns 6,916 shares of the company’s stock valued at $286,000 after acquiring an additional 927 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in British American Tobacco by 104.9% in the first quarter. Creative Financial Designs Inc. ADV now owns 3,381 shares of the company’s stock valued at $140,000 after purchasing an additional 1,731 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in British American Tobacco by 49.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,262 shares of the company’s stock worth $838,000 after purchasing an additional 6,744 shares during the period. Phillips Wealth Planners LLC purchased a new position in shares of British American Tobacco during the 1st quarter valued at about $213,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of British American Tobacco by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 610 shares of the company’s stock valued at $25,000 after buying an additional 305 shares during the period. Institutional investors and hedge funds own 16.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BTI shares. Bank of America started coverage on British American Tobacco in a research report on Wednesday, April 30th. They set a “buy” rating for the company. Barclays reaffirmed an “overweight” rating on shares of British American Tobacco in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

British American Tobacco Trading Up 0.7%

BTI stock opened at $48.10 on Friday. British American Tobacco p.l.c. has a 52-week low of $30.81 and a 52-week high of $49.58. The company has a quick ratio of 0.52, a current ratio of 0.76 and a debt-to-equity ratio of 0.65. The firm has a market cap of $99.31 billion, a P/E ratio of 9.88, a PEG ratio of 4.01 and a beta of 0.31. The company’s 50-day simple moving average is $45.10 and its 200-day simple moving average is $41.13.

British American Tobacco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th will be given a dividend of $0.7391 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a yield of 5.99%. British American Tobacco’s dividend payout ratio is currently 65.09%.

British American Tobacco Profile

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.