British American Tobacco (NYSE:BTI) Reaches New 12-Month High – What’s Next?

British American Tobacco p.l.c. (NYSE:BTI) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $63.08 and last traded at $62.8950, with a volume of 2401118 shares changing hands. The stock had previously closed at $61.91.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BTI. Weiss Ratings upgraded shares of British American Tobacco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. Citigroup reissued a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Morgan Stanley reissued an “underweight” rating on shares of British American Tobacco in a report on Wednesday, December 10th. Finally, Kepler Capital Markets began coverage on shares of British American Tobacco in a research report on Friday, December 12th. They set a “buy” rating on the stock. Eight research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, British American Tobacco currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

British American Tobacco Stock Up 1.9%

The business’s 50 day moving average price is $58.45 and its 200-day moving average price is $56.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87.

British American Tobacco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Stockholders of record on Tuesday, December 29th will be paid a dividend of $0.8349 per share. The ex-dividend date is Tuesday, December 29th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 5.3%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BTI. Stone Wealth Partners bought a new stake in shares of British American Tobacco in the fourth quarter valued at about $318,000. Dorsey Wright & Associates grew its position in shares of British American Tobacco by 6.3% during the 4th quarter. Dorsey Wright & Associates now owns 26,735 shares of the company’s stock worth $1,514,000 after purchasing an additional 1,586 shares in the last quarter. Michels Family Financial LLC increased its holdings in shares of British American Tobacco by 1.5% during the fourth quarter. Michels Family Financial LLC now owns 16,909 shares of the company’s stock worth $957,000 after purchasing an additional 244 shares during the period. Corient Private Wealth LLC boosted its stake in shares of British American Tobacco by 15.5% in the fourth quarter. Corient Private Wealth LLC now owns 50,742 shares of the company’s stock valued at $2,831,000 after buying an additional 6,822 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in British American Tobacco by 2.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 127,846 shares of the company’s stock worth $7,239,000 after buying an additional 3,457 shares in the last quarter. Institutional investors own 16.16% of the company’s stock.

About British American Tobacco

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.