Manning & Napier Advisors LLC Reduces Stake in British American Tobacco p.l.c. $BTI

Manning & Napier Advisors LLC reduced its position in British American Tobacco p.l.c. (NYSE:BTI) by 9.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 161,234 shares of the company’s stock after selling 17,554 shares during the period. Manning & Napier Advisors LLC’s holdings in British American Tobacco were worth $9,129,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in British American Tobacco by 35.2% during the 1st quarter. AQR Capital Management LLC now owns 27,914 shares of the company’s stock valued at $1,155,000 after acquiring an additional 7,270 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in British American Tobacco by 42.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,455 shares of the company’s stock valued at $400,000 after acquiring an additional 2,521 shares in the last quarter. Rhumbline Advisers increased its holdings in British American Tobacco by 10.2% during the 2nd quarter. Rhumbline Advisers now owns 6,017 shares of the company’s stock valued at $285,000 after acquiring an additional 559 shares in the last quarter. Baird Financial Group Inc. increased its holdings in British American Tobacco by 58.6% during the 2nd quarter. Baird Financial Group Inc. now owns 14,853 shares of the company’s stock valued at $703,000 after acquiring an additional 5,486 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in British American Tobacco by 5.4% during the 2nd quarter. Brown Advisory Inc. now owns 15,967 shares of the company’s stock valued at $756,000 after acquiring an additional 816 shares in the last quarter. 16.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings raised British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded British American Tobacco from a “buy” rating to a “hold” rating in a research report on Sunday, April 5th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Trading Up 0.3%

Shares of NYSE:BTI opened at $58.28 on Friday. British American Tobacco p.l.c. has a 52 week low of $40.12 and a 52 week high of $63.22. The business has a fifty day simple moving average of $58.70 and a 200-day simple moving average of $57.53. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66.

British American Tobacco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be issued a $0.8349 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Tuesday, December 29th.

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.