TrueMark Investments LLC Sells 150,282 Shares of British American Tobacco p.l.c. $BTI

TrueMark Investments LLC trimmed its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI) by 49.4% during the third quarter, HoldingsChannel reports. The firm owned 154,191 shares of the company’s stock after selling 150,282 shares during the quarter. British American Tobacco accounts for about 1.4% of TrueMark Investments LLC’s investment portfolio, making the stock its 20th biggest holding. TrueMark Investments LLC’s holdings in British American Tobacco were worth $8,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in BTI. True Wealth Design LLC purchased a new position in British American Tobacco in the 3rd quarter worth approximately $29,000. Cary Street Partners Financial LLC purchased a new stake in shares of British American Tobacco during the second quarter valued at approximately $30,000. Salem Investment Counselors Inc. increased its holdings in British American Tobacco by 48.6% in the 3rd quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock worth $34,000 after buying an additional 207 shares in the last quarter. City Holding Co. bought a new position in British American Tobacco during the third quarter valued at approximately $42,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of British American Tobacco during the 2nd quarter valued at $44,000. Hedge funds and other institutional investors own 16.16% of the company’s stock.

British American Tobacco Stock Performance

Shares of NYSE BTI opened at $59.18 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. The firm’s 50 day simple moving average is $56.78 and its 200-day simple moving average is $54.92. British American Tobacco p.l.c. has a 12 month low of $37.08 and a 12 month high of $59.29.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup reissued a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Kepler Capital Markets started coverage on shares of British American Tobacco in a report on Friday, December 12th. They issued a “buy” rating for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of British American Tobacco in a report on Wednesday. Morgan Stanley reaffirmed an “underweight” rating on shares of British American Tobacco in a report on Wednesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, British American Tobacco presently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

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.