Verdence Capital Advisors LLC Purchases Shares of 30,896 British American Tobacco p.l.c. $BTI

Verdence Capital Advisors LLC purchased a new stake in British American Tobacco p.l.c. (NYSE:BTI) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 30,896 shares of the company’s stock, valued at approximately $1,462,000.

A number of other hedge funds also recently made changes to their positions in BTI. Farther Finance Advisors LLC boosted its holdings in shares of British American Tobacco by 31.1% in the 1st quarter. Farther Finance Advisors LLC now owns 4,098 shares of the company’s stock valued at $168,000 after purchasing an additional 971 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of British American Tobacco by 26.8% in the 1st quarter. GAMMA Investing LLC now owns 6,681 shares of the company’s stock valued at $276,000 after purchasing an additional 1,411 shares during the last quarter. CX Institutional acquired a new position in shares of British American Tobacco in the 1st quarter valued at $34,000. Fifth Third Bancorp boosted its holdings in shares of British American Tobacco by 29.4% in the 1st quarter. Fifth Third Bancorp now owns 14,253 shares of the company’s stock valued at $590,000 after purchasing an additional 3,241 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC lifted its holdings in shares of British American Tobacco by 1.6% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 16,715 shares of the company’s stock valued at $691,000 after acquiring an additional 258 shares in the last quarter. Institutional investors and hedge funds own 16.16% of the company’s stock.

Analyst Ratings Changes

BTI has been the topic of several recent research reports. Morgan Stanley restated an “underweight” rating and set a $40.00 target price on shares of British American Tobacco in a report on Friday, August 15th. Royal Bank Of Canada lowered shares of British American Tobacco from a “sector perform” rating to an “underperform” rating in a report on Tuesday, September 2nd. Argus upgraded shares of British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Monday, September 8th. Wall Street Zen lowered shares of British American Tobacco from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of British American Tobacco in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.00.

British American Tobacco Stock Performance

Shares of BTI stock opened at $50.79 on Tuesday. British American Tobacco p.l.c. has a 12 month low of $34.17 and a 12 month high of $59.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.87 and a quick ratio of 0.55. The firm has a market capitalization of $104.37 billion, a P/E ratio of 10.43, a P/E/G ratio of 3.57 and a beta of 0.42. The company’s fifty day moving average price is $55.29 and its two-hundred day moving average price is $49.29.

British American Tobacco Company 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.