Renaissance Technologies LLC Acquires 528,200 Shares of British American Tobacco p.l.c. $BTI

Renaissance Technologies LLC increased its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI) by 994.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 581,299 shares of the company’s stock after buying an additional 528,200 shares during the quarter. Renaissance Technologies LLC’s holdings in British American Tobacco were worth $33,989,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Command Advisory Services Inc. lifted its stake in British American Tobacco by 1,386.7% in the 4th quarter. First Command Advisory Services Inc. now owns 446 shares of the company’s stock valued at $25,000 after purchasing an additional 416 shares during the last quarter. Glen Eagle Advisors LLC bought a new stake in shares of British American Tobacco during the fourth quarter worth $26,000. Cary Street Partners Financial LLC acquired a new position in shares of British American Tobacco during the second quarter worth $30,000. SHP Wealth Management bought a new position in shares of British American Tobacco in the 4th quarter valued at $35,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of 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 in the last quarter. 16.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on BTI shares. Wall Street Zen cut British American Tobacco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Citigroup reissued a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. Weiss Ratings upgraded British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Finally, BTIG Research began coverage on shares of British American Tobacco in a report on Tuesday, July 21st. They issued a “buy” rating for the company. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.00.

British American Tobacco Stock Performance

Shares of British American Tobacco stock opened at $62.34 on Wednesday. British American Tobacco p.l.c. has a twelve month low of $49.88 and a twelve month high of $67.30. The company’s fifty day moving average is $61.41 and its 200 day moving average is $60.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57.

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.