Procyon Advisors LLC Takes Position in British American Tobacco p.l.c. $BTI

Procyon Advisors LLC acquired a new position in British American Tobacco p.l.c. (NYSE:BTI) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,001 shares of the company’s stock, valued at approximately $760,000.

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

British American Tobacco Stock Performance

BTI opened at $58.20 on Wednesday. The firm has a 50-day simple moving average of $61.70 and a two-hundred day simple moving average of $59.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57. British American Tobacco p.l.c. has a 52 week low of $49.88 and a 52 week high of $67.30.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BTI. Wall Street Zen cut shares of British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Citigroup reissued a “buy” rating on shares of British American Tobacco in a report on Thursday, May 14th. Weiss Ratings upgraded British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, British American Tobacco has a consensus rating of “Moderate Buy” and an average price target of $51.00.

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.