British American Tobacco p.l.c.’s (BTI) “Overweight” Rating Reiterated at J P Morgan Chase & Co

J P Morgan Chase & Co restated their overweight rating on shares of British American Tobacco p.l.c. (NYSE:BTI) in a research note published on Wednesday, August 9th.

BTI has been the subject of a number of other reports. Bank of America Corporation set a $79.00 price objective on British American Tobacco p.l.c. and gave the stock a buy rating in a research report on Thursday, July 6th. Zacks Investment Research lowered British American Tobacco p.l.c. from a buy rating to a hold rating in a report on Friday, June 16th. Piper Jaffray Companies started coverage on British American Tobacco p.l.c. in a report on Thursday, May 25th. They set an overweight rating and a $59.00 price target for the company. SBG Securities upgraded British American Tobacco p.l.c. from a hold rating to a buy rating in a report on Monday, July 31st. Finally, UBS AG reiterated a buy rating on shares of British American Tobacco p.l.c. in a report on Tuesday, August 1st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $69.33.

Shares of British American Tobacco p.l.c. (BTI) traded down 0.90% on Wednesday, hitting $60.80. 2,919,541 shares of the stock traded hands. British American Tobacco p.l.c. has a one year low of $60.15 and a one year high of $130.40. The stock has a market cap of $112.97 billion, a price-to-earnings ratio of 20.57 and a beta of 1.02. The company’s 50 day moving average is $66.28 and its 200 day moving average is $71.29.

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The company also recently declared a None dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, August 18th will be issued a dividend of $0.728 per share. The ex-dividend date is Wednesday, August 16th. This represents a dividend yield of 2.28%.

Several hedge funds and other institutional investors have recently modified their holdings of BTI. FMR LLC increased its position in shares of British American Tobacco p.l.c. by 14.7% in the second quarter. FMR LLC now owns 27,727,365 shares of the company’s stock worth $1,900,434,000 after buying an additional 3,557,549 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of British American Tobacco p.l.c. by 16.3% in the second quarter. Goldman Sachs Group Inc. now owns 15,532,398 shares of the company’s stock worth $1,064,590,000 after buying an additional 2,181,462 shares during the last quarter. Balyasny Asset Management LLC increased its position in shares of British American Tobacco p.l.c. by 817.0% in the second quarter. Balyasny Asset Management LLC now owns 2,330,151 shares of the company’s stock worth $159,709,000 after buying an additional 2,076,034 shares during the last quarter. Northern Trust Corp increased its position in shares of British American Tobacco p.l.c. by 0.3% in the second quarter. Northern Trust Corp now owns 2,089,238 shares of the company’s stock worth $143,197,000 after buying an additional 7,233 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc. increased its position in shares of British American Tobacco p.l.c. by 1.0% in the second quarter. Schafer Cullen Capital Management Inc. now owns 1,278,569 shares of the company’s stock worth $87,633,000 after buying an additional 12,365 shares during the last quarter. 4.46% of the stock is currently owned by institutional investors and hedge funds.

About British American Tobacco p.l.c.

British American Tobacco p.l.c. is a tobacco and next generation products company. The Company’s tobacco product range includes cigarettes, fine cut (roll-your-own and make-your-own tobacco) and Swedish-style snus. Its segments include Asia-Pacific, Americas, Western Europe, and Eastern Europe, Middle East and Africa (EEMEA).

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