Cresset Asset Management LLC Sells 35,510 Shares of British American Tobacco p.l.c. (NYSE:BTI)

Cresset Asset Management LLC decreased its holdings in British American Tobacco p.l.c. (NYSE:BTI) by 69.6% during the 4th quarter, HoldingsChannel reports. The firm owned 15,511 shares of the company’s stock after selling 35,510 shares during the quarter. Cresset Asset Management LLC’s holdings in British American Tobacco were worth $575,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital International Investors increased its stake in shares of British American Tobacco by 17.1% in the 4th quarter. Capital International Investors now owns 38,873,006 shares of the company’s stock valued at $1,411,179,000 after purchasing an additional 5,673,619 shares during the last quarter. Capital Research Global Investors increased its stake in shares of British American Tobacco by 0.3% in the 4th quarter. Capital Research Global Investors now owns 15,594,361 shares of the company’s stock valued at $566,381,000 after purchasing an additional 47,439 shares during the last quarter. FMR LLC increased its stake in shares of British American Tobacco by 44.0% in the 4th quarter. FMR LLC now owns 10,232,402 shares of the company’s stock valued at $371,641,000 after purchasing an additional 3,127,046 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of British American Tobacco by 24.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,094,244 shares of the company’s stock valued at $221,343,000 after purchasing an additional 1,196,020 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in shares of British American Tobacco by 4.8% in the 4th quarter. Natixis Advisors LLC now owns 3,010,687 shares of the company’s stock valued at $109,348,000 after purchasing an additional 137,231 shares during the last quarter. Institutional investors own 16.16% of the company’s stock.

Wall Street Analysts Forecast Growth

BTI has been the topic of several recent research reports. Bank of America initiated coverage on British American Tobacco in a report on Wednesday, April 30th. They set a “buy” rating on the stock. StockNews.com raised British American Tobacco from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, UBS Group raised British American Tobacco from a “neutral” rating to a “buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

British American Tobacco Trading Down 0.3%

NYSE BTI opened at $40.56 on Thursday. The company has a market cap of $83.94 billion, a price-to-earnings ratio of 8.33 and a beta of 0.32. British American Tobacco p.l.c. has a twelve month low of $30.01 and a twelve month high of $44.78. The business’s fifty day moving average is $41.61 and its 200 day moving average is $38.94. The company has a quick ratio of 0.58, a current ratio of 0.76 and a debt-to-equity ratio of 0.65.

British American Tobacco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, December 30th will be issued a dividend of $0.7391 per share. This represents a $2.96 annualized dividend and a yield of 7.29%. The ex-dividend date of this dividend is Tuesday, December 30th. British American Tobacco’s payout ratio is presently 60.57%.

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.