Meritage Portfolio Management Sells 5,327 Shares of British American Tobacco p.l.c. (NYSE:BTI)

Meritage Portfolio Management decreased its holdings in British American Tobacco p.l.c. (NYSE:BTI) by 4.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 109,957 shares of the company’s stock after selling 5,327 shares during the quarter. Meritage Portfolio Management’s holdings in British American Tobacco were worth $4,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Capital World Investors boosted its stake in shares of British American Tobacco by 0.4% during the 1st quarter. Capital World Investors now owns 3,836,365 shares of the company’s stock worth $117,009,000 after acquiring an additional 13,643 shares during the last quarter. Natixis Advisors LLC grew its holdings in British American Tobacco by 29.9% during the second quarter. Natixis Advisors LLC now owns 2,667,339 shares of the company’s stock valued at $82,501,000 after purchasing an additional 614,634 shares during the period. Raymond James & Associates increased its position in British American Tobacco by 1.9% in the second quarter. Raymond James & Associates now owns 2,279,765 shares of the company’s stock worth $70,513,000 after buying an additional 43,006 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of British American Tobacco by 7.9% in the second quarter. First Eagle Investment Management LLC now owns 779,478 shares of the company’s stock worth $24,109,000 after buying an additional 57,016 shares during the period. Finally, Osaic Holdings Inc. lifted its position in shares of British American Tobacco by 25.0% during the 1st quarter. Osaic Holdings Inc. now owns 487,983 shares of the company’s stock valued at $14,887,000 after buying an additional 97,556 shares in the last quarter. 21.44% of the stock is currently owned by institutional investors.

British American Tobacco Price Performance

BTI stock opened at $35.39 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.58 and a current ratio of 0.88. British American Tobacco p.l.c. has a 1-year low of $28.25 and a 1-year high of $39.54. The business has a 50 day simple moving average of $36.42 and a two-hundred day simple moving average of $33.93.

Wall Street Analyst Weigh In

BTI has been the topic of a number of recent analyst reports. Morgan Stanley cut shares of British American Tobacco from an “overweight” rating to an “underweight” rating and set a $33.00 target price on the stock. in a research note on Thursday, October 3rd. Barclays upgraded shares of British American Tobacco to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, StockNews.com lowered British American Tobacco from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 11th.

British American Tobacco 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.