Cibc World Market Inc. Sells 12,641 Shares of British American Tobacco p.l.c. $BTI

Cibc World Market Inc. lessened its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI) by 3.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 314,615 shares of the company’s stock after selling 12,641 shares during the period. Cibc World Market Inc.’s holdings in British American Tobacco were worth $17,814,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital International Investors raised its position in British American Tobacco by 3.0% during the third quarter. Capital International Investors now owns 64,057,419 shares of the company’s stock valued at $3,399,352,000 after acquiring an additional 1,891,042 shares in the last quarter. Capital Research Global Investors raised its position in British American Tobacco by 2.6% during the third quarter. Capital Research Global Investors now owns 22,068,891 shares of the company’s stock valued at $1,171,399,000 after acquiring an additional 559,189 shares in the last quarter. Orbis Allan Gray Ltd raised its position in British American Tobacco by 20.7% during the second quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock valued at $686,473,000 after acquiring an additional 2,482,737 shares in the last quarter. Capital World Investors raised its position in British American Tobacco by 12,870.7% during the third quarter. Capital World Investors now owns 9,470,709 shares of the company’s stock valued at $502,687,000 after acquiring an additional 9,397,693 shares in the last quarter. Finally, Bank of America Corp DE raised its position in British American Tobacco by 29.5% during the third quarter. Bank of America Corp DE now owns 6,934,792 shares of the company’s stock valued at $368,099,000 after acquiring an additional 1,578,860 shares in the last quarter. Institutional investors own 16.16% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BTI. Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Wall Street Zen raised shares of British American Tobacco from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, Weiss Ratings raised shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

British American Tobacco Stock Performance

NYSE:BTI opened at $59.91 on Friday. British American Tobacco p.l.c. has a 12 month low of $46.38 and a 12 month high of $67.30. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57. The company’s 50 day moving average is $60.11 and its 200-day moving average is $58.99.

British American Tobacco Profile

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.