Drive Wealth Management LLC Takes Position in British American Tobacco p.l.c. $BTI

Drive Wealth Management LLC acquired a new stake in British American Tobacco p.l.c. (NYSE:BTI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,514 shares of the company’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lockheed Martin Investment Management Co. lifted its position in shares of British American Tobacco by 27.7% in the first quarter. Lockheed Martin Investment Management Co. now owns 141,000 shares of the company’s stock valued at $5,833,000 after acquiring an additional 30,600 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new position in British American Tobacco during the first quarter worth about $375,000. Atria Wealth Solutions Inc. lifted its position in British American Tobacco by 28.8% during the first quarter. Atria Wealth Solutions Inc. now owns 25,726 shares of the company’s stock worth $1,074,000 after buying an additional 5,745 shares during the period. Todd Asset Management LLC lifted its position in British American Tobacco by 26.9% during the first quarter. Todd Asset Management LLC now owns 741,893 shares of the company’s stock worth $30,692,000 after buying an additional 157,251 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in British American Tobacco by 12.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 233,271 shares of the company’s stock worth $9,650,000 after buying an additional 24,962 shares during the period. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

British American Tobacco Stock Performance

British American Tobacco stock opened at $50.38 on Wednesday. The stock’s 50-day moving average is $54.57 and its 200-day moving average is $49.65. The company has a market cap of $103.53 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 3.61 and a beta of 0.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.87 and a quick ratio of 0.55. British American Tobacco p.l.c. has a 12 month low of $34.17 and a 12 month high of $59.29.

Wall Street Analyst Weigh In

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

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.