British American Tobacco p.l.c. $BTI Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in British American Tobacco p.l.c. (NYSE:BTI) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,023,917 shares of the company’s stock after purchasing an additional 231,659 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of British American Tobacco worth $160,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Federated Hermes Inc. raised its stake in shares of British American Tobacco by 2,066.9% during the 2nd quarter. Federated Hermes Inc. now owns 3,476,001 shares of the company’s stock worth $164,519,000 after buying an additional 3,315,589 shares during the period. Orbis Allan Gray Ltd grew its stake in British American Tobacco by 20.7% in the 2nd 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 during the period. Citigroup Inc. increased its holdings in British American Tobacco by 833.5% in the 2nd quarter. Citigroup Inc. now owns 2,121,918 shares of the company’s stock worth $100,430,000 after acquiring an additional 1,894,617 shares in the last quarter. JPMorgan Chase & Co. raised its position in British American Tobacco by 201.6% during the second quarter. JPMorgan Chase & Co. now owns 2,748,324 shares of the company’s stock worth $130,078,000 after acquiring an additional 1,837,106 shares during the period. Finally, Bank of America Corp DE lifted its holdings in British American Tobacco by 35.1% during the second quarter. Bank of America Corp DE now owns 5,355,932 shares of the company’s stock valued at $253,496,000 after purchasing an additional 1,392,799 shares in the last quarter. Hedge funds and other institutional investors own 16.16% of the company’s stock.

British American Tobacco Stock Performance

NYSE:BTI opened at $62.79 on Friday. British American Tobacco p.l.c. has a one year low of $37.31 and a one year high of $63.03. 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 stock has a 50 day moving average price of $57.78 and a 200 day moving average price of $55.61.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BTI shares. Citigroup reissued a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of British American Tobacco in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Kepler Capital Markets started coverage on British American Tobacco in a research note on Friday, December 12th. They issued a “buy” rating for the company. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of British American Tobacco in a research note on Wednesday, December 10th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

British American Tobacco Company 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.