Sterling Capital Management LLC Acquires 20,985 Shares of British American Tobacco PLC (BTI)

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Sterling Capital Management LLC increased its position in shares of British American Tobacco PLC (NYSE:BTI) by 63.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,238 shares of the company’s stock after purchasing an additional 20,985 shares during the period. Sterling Capital Management LLC’s holdings in British American Tobacco were worth $2,529,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its stake in shares of British American Tobacco by 44.6% during the 2nd quarter. Assetmark Inc. now owns 3,121 shares of the company’s stock worth $157,000 after purchasing an additional 962 shares during the period. OmniStar Financial Group Inc. boosted its stake in shares of British American Tobacco by 13.4% during the 2nd quarter. OmniStar Financial Group Inc. now owns 8,529 shares of the company’s stock worth $430,000 after purchasing an additional 1,005 shares during the period. Wedbush Securities Inc. boosted its stake in shares of British American Tobacco by 25.8% during the 2nd quarter. Wedbush Securities Inc. now owns 4,976 shares of the company’s stock worth $251,000 after purchasing an additional 1,021 shares during the period. Sigma Planning Corp boosted its stake in shares of British American Tobacco by 18.5% during the 2nd quarter. Sigma Planning Corp now owns 6,957 shares of the company’s stock worth $351,000 after purchasing an additional 1,088 shares during the period. Finally, Intrust Bank NA boosted its stake in shares of British American Tobacco by 8.2% during the 2nd quarter. Intrust Bank NA now owns 16,144 shares of the company’s stock worth $815,000 after purchasing an additional 1,221 shares during the period. 7.69% of the stock is owned by hedge funds and other institutional investors.

BTI has been the subject of a number of recent analyst reports. Jefferies Financial Group cut shares of British American Tobacco to a “buy” rating in a research note on Friday, August 24th. Zacks Investment Research upgraded shares of British American Tobacco from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Sanford C. Bernstein began coverage on shares of British American Tobacco in a report on Tuesday, October 16th. They set a “market perform” rating for the company. DZ Bank reiterated a “sell” rating on shares of British American Tobacco in a report on Thursday, October 18th. Finally, UBS Group lowered shares of British American Tobacco from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. British American Tobacco presently has a consensus rating of “Hold” and an average target price of $73.00.

Shares of BTI opened at $43.77 on Wednesday. British American Tobacco PLC has a 1-year low of $41.69 and a 1-year high of $71.44. The stock has a market cap of $92.72 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.81 and a quick ratio of 0.41.

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About British American Tobacco

British American Tobacco p.l.c. provides cigarettes and other tobacco products worldwide. It manufactures vapour and tobacco heating products; oral tobacco and nicotine products, such as snus and moist snuff; cigars; and e-cigarettes. The company offers its products under the Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, Benson & Hedges, John Player Gold Leaf, State Express 555, and Shuang Xi brands.

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Institutional Ownership by Quarter for British American Tobacco (NYSE:BTI)

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