Sunpointe LLC Takes $368,000 Position in British American Tobacco p.l.c. $BTI

Sunpointe LLC acquired a new position in British American Tobacco p.l.c. (NYSE:BTI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,651 shares of the company’s stock, valued at approximately $368,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC grew its position in British American Tobacco by 59.8% in the first quarter. GQG Partners LLC now owns 9,598,465 shares of the company’s stock worth $397,089,000 after acquiring an additional 3,590,916 shares in the last quarter. Orbis Allan Gray Ltd increased its holdings in shares of British American Tobacco by 20.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 12,021,231 shares of the company’s stock valued at $497,318,000 after acquiring an additional 2,040,011 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of British American Tobacco by 5,144.6% in the 1st quarter. GAMMA Investing LLC now owns 276,393 shares of the company’s stock valued at $11,434,000 after acquiring an additional 271,123 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in British American Tobacco by 39.6% in the 4th quarter. Two Sigma Advisers LP now owns 877,000 shares of the company’s stock worth $31,853,000 after purchasing an additional 248,700 shares during the last quarter. Finally, First Sabrepoint Capital Management LP bought a new stake in British American Tobacco during the first quarter worth approximately $7,653,000. 16.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Argus raised shares of British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Monday, September 8th. Wall Street Zen downgraded shares of British American Tobacco from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Royal Bank Of Canada cut shares of British American Tobacco from a “sector perform” rating to an “underperform” rating in a report on Tuesday, September 2nd. Jefferies Financial Group initiated coverage on British American Tobacco in a research report on Wednesday, July 9th. They issued a “buy” rating on the stock. Finally, Morgan Stanley reissued an “underweight” rating and set a $40.00 price objective on shares of British American Tobacco in a research report on Friday, August 15th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.00.

British American Tobacco Trading Down 0.4%

BTI stock opened at $55.80 on Wednesday. British American Tobacco p.l.c. has a 1-year low of $34.17 and a 1-year high of $59.29. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $55.13 and its 200-day moving average is $47.66. The firm has a market cap of $114.81 billion, a P/E ratio of 11.46, a P/E/G ratio of 3.85 and a beta of 0.40.

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.