Federated Hermes Inc. Raises Holdings in British American Tobacco p.l.c. (NYSE:BTI)

Federated Hermes Inc. boosted its stake in shares of British American Tobacco p.l.c. (NYSE:BTI) by 5.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160,412 shares of the company’s stock after acquiring an additional 8,541 shares during the quarter. Federated Hermes Inc.’s holdings in British American Tobacco were worth $6,636,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BTI. Park Avenue Securities LLC lifted its stake in shares of British American Tobacco by 0.7% in the 1st quarter. Park Avenue Securities LLC now owns 33,866 shares of the company’s stock valued at $1,401,000 after purchasing an additional 244 shares during the period. Applied Capital LLC FL increased its holdings in British American Tobacco by 1.1% in the first quarter. Applied Capital LLC FL now owns 23,284 shares of the company’s stock valued at $963,000 after buying an additional 257 shares in the last quarter. Elevation Point Wealth Partners LLC raised its position in shares of British American Tobacco by 1.6% in the first quarter. Elevation Point Wealth Partners LLC now owns 16,715 shares of the company’s stock worth $691,000 after acquiring an additional 258 shares during the period. Keystone Financial Group boosted its stake in shares of British American Tobacco by 1.5% during the 4th quarter. Keystone Financial Group now owns 17,695 shares of the company’s stock worth $643,000 after acquiring an additional 267 shares in the last quarter. Finally, Financial Management Professionals Inc. grew its position in shares of British American Tobacco by 78.5% during the 1st quarter. Financial Management Professionals Inc. now owns 632 shares of the company’s stock valued at $26,000 after acquiring an additional 278 shares during the period. 16.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Barclays reaffirmed an “overweight” rating on shares of British American Tobacco in a report on Friday, June 13th. Jefferies Financial Group started coverage on British American Tobacco in a research report on Wednesday, July 9th. They set a “buy” rating on the stock. Bank of America initiated coverage on shares of British American Tobacco in a report on Wednesday, April 30th. They issued a “buy” rating for the company. Finally, Wall Street Zen downgraded shares of British American Tobacco from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, British American Tobacco currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

British American Tobacco Stock Performance

NYSE BTI opened at $54.35 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.76 and a quick ratio of 0.52. British American Tobacco p.l.c. has a 1-year low of $34.12 and a 1-year high of $54.91. The company has a market cap of $112.11 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 5.03 and a beta of 0.38. The stock’s 50 day simple moving average is $49.14 and its 200-day simple moving average is $43.70.

British American Tobacco Cuts Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.7391 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a dividend yield of 599.0%. British American Tobacco’s dividend payout ratio is presently 60.78%.

British American Tobacco Company 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.