British American Tobacco p.l.c. (NYSE:BTI) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its stake in British American Tobacco p.l.c. (NYSE:BTI) by 35.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,289,026 shares of the company’s stock after selling 697,711 shares during the quarter. Wells Fargo & Company MN’s holdings in British American Tobacco were worth $46,817,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BTI. Raymond James Financial Inc. purchased a new position in British American Tobacco in the fourth quarter worth approximately $55,620,000. Arrowstreet Capital Limited Partnership lifted its stake in British American Tobacco by 24.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,094,244 shares of the company’s stock worth $221,343,000 after purchasing an additional 1,196,020 shares in the last quarter. ABC Arbitrage SA acquired a new position in British American Tobacco during the fourth quarter worth $31,480,000. SBI Securities Co. Ltd. acquired a new position in British American Tobacco during the fourth quarter worth $11,820,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in British American Tobacco by 129.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 385,920 shares of the company’s stock worth $14,117,000 after purchasing an additional 218,000 shares in the last quarter. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

British American Tobacco Stock Performance

NYSE BTI opened at $40.20 on Thursday. 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 p.l.c. has a 52-week low of $28.25 and a 52-week high of $42.74. The business’s 50-day moving average price is $40.30 and its 200 day moving average price is $37.79. The firm has a market cap of $83.27 billion, a P/E ratio of 8.25 and a beta of 0.38.

British American Tobacco Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, May 12th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.7491 per share. The ex-dividend date of this dividend is Friday, March 28th. British American Tobacco’s dividend payout ratio (DPR) is 60.57%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BTI shares. StockNews.com upgraded British American Tobacco from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. UBS Group upgraded British American Tobacco from a “neutral” rating to a “buy” rating in a research note on Monday, January 27th.

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.