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 %
British American Tobacco Company Profile
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.
- Get a free copy of the StockNews.com research report on British American Tobacco (BTI)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Why Apple Could Be At All-Time Highs By Year End
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
Receive News & Ratings for British American Tobacco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for British American Tobacco and related companies with MarketBeat.com's FREE daily email newsletter.