ABC Arbitrage SA Invests $31.48 Million in British American Tobacco p.l.c. (NYSE:BTI)

ABC Arbitrage SA purchased a new position in shares of British American Tobacco p.l.c. (NYSE:BTI) during the 4th quarter, Holdings Channel.com reports. The firm purchased 866,729 shares of the company’s stock, valued at approximately $31,480,000. British American Tobacco comprises approximately 4.5% of ABC Arbitrage SA’s investment portfolio, making the stock its 3rd biggest position.

Several other hedge funds also recently made changes to their positions in the company. Key Client Fiduciary Advisors LLC raised its stake in British American Tobacco by 2.0% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 15,047 shares of the company’s stock valued at $547,000 after acquiring an additional 295 shares during the last quarter. ORG Partners LLC increased its position in shares of British American Tobacco by 35.1% in the fourth quarter. ORG Partners LLC now owns 1,151 shares of the company’s stock valued at $42,000 after buying an additional 299 shares in the last quarter. First City Capital Management Inc. raised its stake in shares of British American Tobacco by 2.8% during the 3rd quarter. First City Capital Management Inc. now owns 10,890 shares of the company’s stock worth $398,000 after buying an additional 300 shares during the last quarter. Greenleaf Trust grew its stake in British American Tobacco by 1.8% in the 3rd quarter. Greenleaf Trust now owns 21,211 shares of the company’s stock valued at $776,000 after acquiring an additional 376 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in British American Tobacco by 17.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,570 shares of the company’s stock valued at $93,000 after acquiring an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 16.16% of the company’s stock.

British American Tobacco Price Performance

BTI stock opened at $38.80 on Friday. British American Tobacco p.l.c. has a one year low of $28.25 and a one year high of $42.74. The company has a 50 day moving average price of $37.81 and a two-hundred day moving average price of $36.92. The company has a quick ratio of 0.58, a current ratio of 0.88 and a debt-to-equity ratio of 0.60.

British American Tobacco Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, December 30th will be given a dividend of $0.7391 per share. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $2.96 annualized dividend and a yield of 7.62%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BTI. StockNews.com cut shares of British American Tobacco from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. UBS Group upgraded British American Tobacco from a “neutral” rating to a “buy” rating in a research report on Monday, January 27th.

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.