British American Tobacco p.l.c. $BTI Stake Raised by Truist Financial Corp

Truist Financial Corp lifted its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 427,284 shares of the company’s stock after buying an additional 24,114 shares during the period. Truist Financial Corp’s holdings in British American Tobacco were worth $22,680,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BTI. True Wealth Design LLC bought a new position in shares of British American Tobacco in the third quarter worth $29,000. Cary Street Partners Financial LLC acquired a new stake in British American Tobacco in the second quarter worth about $30,000. Salem Investment Counselors Inc. grew its position in British American Tobacco by 48.6% in the 3rd quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock valued at $34,000 after buying an additional 207 shares in the last quarter. City Holding Co. acquired a new position in British American Tobacco during the 3rd quarter valued at about $42,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of British American Tobacco during the 2nd quarter worth about $44,000. Institutional investors own 16.16% of the company’s stock.

British American Tobacco Price Performance

Shares of NYSE BTI opened at $60.65 on Friday. The stock’s fifty day simple moving average is $57.30 and its 200 day simple moving average is $55.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.55 and a current ratio of 0.87. British American Tobacco p.l.c. has a 52-week low of $37.31 and a 52-week high of $60.82.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BTI. Morgan Stanley reaffirmed an “underweight” rating on shares of British American Tobacco in a research note on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Weiss Ratings restated a “hold (c+)” rating on shares of British American Tobacco in a report on Wednesday, January 21st. Finally, Kepler Capital Markets started coverage on British American Tobacco in a research note on Friday, December 12th. They set a “buy” rating for the company. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, British American Tobacco has a consensus rating of “Moderate Buy” and a consensus 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.