Newport Trust Company LLC Trims Stake in British American Tobacco p.l.c. $BTI

Newport Trust Company LLC lowered its position in British American Tobacco p.l.c. (NYSE:BTI) by 5.0% in the 3rd quarter, Holdings Channel reports. The fund owned 2,602,153 shares of the company’s stock after selling 137,239 shares during the quarter. Newport Trust Company LLC’s holdings in British American Tobacco were worth $138,122,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in British American Tobacco by 35.2% in the first quarter. AQR Capital Management LLC now owns 27,914 shares of the company’s stock worth $1,155,000 after purchasing an additional 7,270 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of British American Tobacco by 42.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,455 shares of the company’s stock worth $400,000 after buying an additional 2,521 shares during the period. Farther Finance Advisors LLC lifted its position in British American Tobacco by 42.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,822 shares of the company’s stock valued at $276,000 after acquiring an additional 1,724 shares during the period. Fifth Third Bancorp boosted its stake in British American Tobacco by 47.6% during the second quarter. Fifth Third Bancorp now owns 21,038 shares of the company’s stock worth $996,000 after acquiring an additional 6,785 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in British American Tobacco by 12.1% in the second quarter. Ballentine Partners LLC now owns 13,780 shares of the company’s stock worth $652,000 after purchasing an additional 1,482 shares during the period. 16.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BTI shares. Citigroup reissued a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Morgan Stanley reissued an “underweight” rating on shares of British American Tobacco in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of British American Tobacco in a research note on Wednesday. Finally, Kepler Capital Markets initiated coverage on shares of British American Tobacco in a research note on Friday, December 12th. They set a “buy” rating for the company. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.00.

British American Tobacco Stock Up 1.7%

Shares of NYSE:BTI opened at $59.18 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. British American Tobacco p.l.c. has a 1 year low of $37.08 and a 1 year high of $59.29. The stock’s fifty day moving average price is $56.78 and its 200-day moving average price is $54.96.

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.