Glenmede Trust Co. NA Grows Position in British American Tobacco p.l.c. $BTI

Glenmede Trust Co. NA lifted its position in British American Tobacco p.l.c. (NYSE:BTI) by 207.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 27,363 shares of the company’s stock after purchasing an additional 18,460 shares during the period. Glenmede Trust Co. NA’s holdings in British American Tobacco were worth $1,600,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. raised its stake in shares of British American Tobacco by 1,386.7% during the fourth quarter. First Command Advisory Services Inc. now owns 446 shares of the company’s stock valued at $25,000 after acquiring an additional 416 shares during the last quarter. Glen Eagle Advisors LLC bought a new stake in shares of British American Tobacco in the fourth quarter worth about $26,000. Cary Street Partners Financial LLC purchased a new position in British American Tobacco during the 2nd quarter valued at about $30,000. SHP Wealth Management purchased a new position in British American Tobacco during the 4th quarter valued at about $35,000. Finally, Cornerstone Planning Group LLC raised its position in British American Tobacco by 141.2% during the 4th quarter. Cornerstone Planning Group LLC now owns 591 shares of the company’s stock valued at $36,000 after purchasing an additional 346 shares during the last quarter. 16.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded British American Tobacco from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. BTIG Research started coverage on shares of British American Tobacco in a report on Tuesday, July 21st. They issued a “buy” rating for the company. Weiss Ratings raised shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of British American Tobacco in a research report on Monday, June 8th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

British American Tobacco Stock Performance

BTI stock opened at $59.35 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.84 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average of $60.86 and a 200 day moving average of $60.31. British American Tobacco p.l.c. has a twelve month low of $49.88 and a twelve month high of $67.30.

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.