Independent Financial Group LLC Takes $747,000 Position in British American Tobacco p.l.c. $BTI

Independent Financial Group LLC bought a new stake in British American Tobacco p.l.c. (NYSE:BTI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,778 shares of the company’s stock, valued at approximately $747,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Command Advisory Services Inc. raised its holdings in shares of British American Tobacco by 1,386.7% in the fourth quarter. First Command Advisory Services Inc. now owns 446 shares of the company’s stock valued at $25,000 after buying an additional 416 shares during the last quarter. Glen Eagle Advisors LLC purchased a new position in shares of British American Tobacco during the fourth quarter worth about $26,000. Cary Street Partners Financial LLC acquired a new position in British American Tobacco in the 2nd quarter valued at about $30,000. SHP Wealth Management purchased a new stake in British American Tobacco during the 4th quarter valued at approximately $35,000. Finally, Cornerstone Planning Group LLC raised its stake in British American Tobacco by 141.2% during the 4th quarter. Cornerstone Planning Group LLC now owns 591 shares of the company’s stock valued at $36,000 after acquiring an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 16.16% of the company’s stock.

Wall Street Analysts Forecast Growth

BTI has been the topic of several analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Citigroup restated a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. BTIG Research assumed coverage on shares of British American Tobacco in a research report on Tuesday. They issued a “buy” rating on the stock. Weiss Ratings raised shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Finally, Wall Street Zen downgraded shares of British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, British American Tobacco has an average rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Stock Performance

Shares of BTI opened at $61.38 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $61.88 and its two-hundred day moving average is $59.92. British American Tobacco p.l.c. has a twelve month low of $49.88 and a twelve month high of $67.30.

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.