British American Tobacco p.l.c. (NYSE:BTI) Short Interest Update

British American Tobacco p.l.c. (NYSE:BTI) saw a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 3,620,239 shares, a decline of 40.3% from the May 14th total of 6,068,684 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average trading volume of 3,316,724 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Investors Weigh In On British American Tobacco

A number of hedge funds have recently added to or reduced their stakes in the business. E Wealth Partners LLC increased its holdings in British American Tobacco by 3.3% in the first quarter. E Wealth Partners LLC now owns 6,271 shares of the company’s stock worth $367,000 after purchasing an additional 203 shares in the last quarter. LFG Wealth Partners LLC increased its holdings in British American Tobacco by 3.6% in the first quarter. LFG Wealth Partners LLC now owns 53,268 shares of the company’s stock worth $3,115,000 after purchasing an additional 1,858 shares in the last quarter. Parallel Advisors LLC increased its holdings in British American Tobacco by 36.8% in the first quarter. Parallel Advisors LLC now owns 11,651 shares of the company’s stock worth $681,000 after purchasing an additional 3,135 shares in the last quarter. NewEdge Advisors LLC increased its holdings in British American Tobacco by 33.3% in the first quarter. NewEdge Advisors LLC now owns 92,337 shares of the company’s stock worth $5,399,000 after purchasing an additional 23,086 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in British American Tobacco by 207.3% in the first quarter. Glenmede Trust Co. NA now owns 27,363 shares of the company’s stock worth $1,600,000 after purchasing an additional 18,460 shares in the last quarter. 16.16% of the stock is currently owned by institutional investors.

British American Tobacco Stock Down 2.1%

Shares of British American Tobacco stock traded down $1.31 during midday trading on Monday, reaching $61.01. The company had a trading volume of 6,058,072 shares, compared to its average volume of 4,581,362. The stock has a fifty day moving average price of $60.39 and a 200 day moving average price of $59.23. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57. British American Tobacco has a fifty-two week low of $46.38 and a fifty-two week high of $67.30.

Analyst Ratings Changes

A number of research firms recently commented on BTI. Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Wall Street Zen lowered British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings raised British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, British American Tobacco currently has an average rating of “Moderate Buy” and an average 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.