CIBC Asset Management Inc Sells 1,808 Shares of British American Tobacco p.l.c. (NYSE:BTI)

CIBC Asset Management Inc lowered its stake in British American Tobacco p.l.c. (NYSE:BTI – Get Rating) by 1.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 127,043 shares of the company’s stock after selling 1,808 shares during the period. CIBC Asset Management Inc’s holdings in British American Tobacco were worth $5,354,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in British American Tobacco by 4.1% in the first quarter. Fifth Third Bancorp now owns 29,030 shares of the company’s stock valued at $1,224,000 after purchasing an additional 1,155 shares during the last quarter. Exane Derivatives purchased a new position in shares of British American Tobacco during the first quarter valued at approximately $261,000. FDx Advisors Inc. increased its stake in shares of British American Tobacco by 0.8% during the first quarter. FDx Advisors Inc. now owns 64,475 shares of the company’s stock valued at $2,718,000 after buying an additional 518 shares during the period. Sigma Planning Corp increased its stake in shares of British American Tobacco by 68.7% during the fourth quarter. Sigma Planning Corp now owns 18,610 shares of the company’s stock valued at $696,000 after buying an additional 7,579 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in shares of British American Tobacco during the first quarter valued at approximately $221,000. Institutional investors own 13.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BTI. Barclays boosted their target price on British American Tobacco from GBX 4,200 ($51.46) to GBX 4,400 ($53.91) in a research note on Tuesday, June 7th. UBS Group upped their price target on British American Tobacco from GBX 3,600 ($44.11) to GBX 3,800 ($46.56) in a research note on Tuesday, May 31st. StockNews.com raised British American Tobacco from a “hold” rating to a “buy” rating in a research note on Tuesday, July 12th. Finally, Morgan Stanley upped their price target on British American Tobacco from GBX 3,780 ($46.32) to GBX 4,000 ($49.01) in a research note on Tuesday, July 5th.

British American Tobacco Stock Up 0.5 %

Shares of BTI stock opened at $39.29 on Friday. The business’s fifty day moving average is $42.12 and its 200 day moving average is $42.66. British American Tobacco p.l.c. has a twelve month low of $33.62 and a twelve month high of $47.24. The company has a quick ratio of 0.52, a current ratio of 0.88 and a debt-to-equity ratio of 0.54.

British American Tobacco Company Profile

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British American Tobacco p.l.c. provides tobacco and nicotine products to consumers worldwide. It offers vapour, tobacco heating, and modern oral nicotine products; combustible products; and traditional oral products, such as snus and moist snuff. The company offers its products under the Kent, Dunhill, Lucky Strike, Pall Mall, Rothmans, Camel, Newport, Natural American Spirit, being Vapour, THP, and Modern Oral brands.