British American Tobacco (NYSE:BTI) Shares Gap Down to $31.46

Shares of British American Tobacco p.l.c. (NYSE:BTIGet Free Report) gapped down before the market opened on Friday . The stock had previously closed at $31.46, but opened at $30.73. British American Tobacco shares last traded at $30.76, with a volume of 1,346,502 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BTI shares. StockNews.com raised shares of British American Tobacco from a “hold” rating to a “buy” rating in a research note on Wednesday, November 29th. Morgan Stanley initiated coverage on shares of British American Tobacco in a research report on Wednesday, November 1st. They issued an “overweight” rating on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Read Our Latest Stock Analysis on British American Tobacco

British American Tobacco Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 0.93 and a quick ratio of 0.58. The firm’s 50-day simple moving average is $29.77 and its 200 day simple moving average is $31.12.

British American Tobacco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, March 22nd will be given a $0.733 dividend. This is a positive change from British American Tobacco’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, March 21st. This represents a $2.93 annualized dividend and a yield of 9.53%.

Institutional Trading of British American Tobacco

Several hedge funds have recently added to or reduced their stakes in BTI. BlackRock Inc. increased its stake in shares of British American Tobacco by 11.6% in the first quarter. BlackRock Inc. now owns 5,624,861 shares of the company’s stock worth $237,145,000 after purchasing an additional 582,790 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of British American Tobacco by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,290,017 shares of the company’s stock worth $54,387,000 after purchasing an additional 8,692 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of British American Tobacco by 4.5% in the first quarter. Cetera Investment Advisers now owns 64,394 shares of the company’s stock worth $2,715,000 after purchasing an additional 2,798 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of British American Tobacco in the first quarter worth about $323,000. Finally, NewEdge Advisors LLC increased its stake in shares of British American Tobacco by 148.7% in the first quarter. NewEdge Advisors LLC now owns 18,870 shares of the company’s stock worth $795,000 after purchasing an additional 11,283 shares in the last quarter. Institutional investors own 7.56% of the company’s stock.

British American Tobacco Company Profile

(Get Free Report)

British American Tobacco p.l.c. engages in the provision of tobacco and nicotine products to consumers worldwide. It offers vapour, tobacco heating, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company offers its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Camel, Natural American Spirit, Newport, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, State Express 555 and Shuang Xi brands.

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