British American Tobacco (NYSE:BTI) Cut to Hold at StockNews.com

British American Tobacco (NYSE:BTI) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

A number of other research analysts have also recently weighed in on BTI. Morgan Stanley cut British American Tobacco from an “overweight” rating to an “underweight” rating and set a $33.00 price objective on the stock. in a research report on Thursday, October 3rd. Barclays raised British American Tobacco to a “strong-buy” rating in a report on Thursday, October 17th.

British American Tobacco Stock Performance

BTI stock opened at $35.42 on Tuesday. British American Tobacco has a fifty-two week low of $28.25 and a fifty-two week high of $39.54. The business’s 50-day moving average is $36.31 and its two-hundred day moving average is $34.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.58.

Hedge Funds Weigh In On British American Tobacco

Large investors have recently modified their holdings of the stock. FMR LLC grew its position in British American Tobacco by 67.7% in the 3rd quarter. FMR LLC now owns 7,105,356 shares of the company’s stock valued at $259,914,000 after acquiring an additional 2,868,675 shares during the last quarter. Capital World Investors lifted its stake in shares of British American Tobacco by 0.4% during the 1st quarter. Capital World Investors now owns 3,836,365 shares of the company’s stock worth $117,009,000 after purchasing an additional 13,643 shares during the last quarter. Natixis Advisors LLC increased its position in British American Tobacco by 7.7% during the 3rd quarter. Natixis Advisors LLC now owns 2,873,456 shares of the company’s stock valued at $105,111,000 after buying an additional 206,117 shares in the last quarter. Raymond James & Associates increased its holdings in shares of British American Tobacco by 1.9% in the second quarter. Raymond James & Associates now owns 2,279,765 shares of the company’s stock valued at $70,513,000 after purchasing an additional 43,006 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in shares of British American Tobacco by 7.9% in the second quarter. First Eagle Investment Management LLC now owns 779,478 shares of the company’s stock valued at $24,109,000 after purchasing an additional 57,016 shares during the period. Institutional investors own 21.44% of the company’s stock.

About British American Tobacco

British American Tobacco p.l.c. engages in the provision of tobacco and nicotine products to consumers worldwide. It also offers vapour, heated, 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.