PNC Financial Services Group Inc. Decreases Stock Position in British American Tobacco p.l.c. (NYSE:BTI)

PNC Financial Services Group Inc. cut its holdings in British American Tobacco p.l.c. (NYSE:BTI) by 4.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 80,912 shares of the company’s stock after selling 4,102 shares during the quarter. PNC Financial Services Group Inc.’s holdings in British American Tobacco were worth $2,960,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Natixis Advisors LLC raised its stake in British American Tobacco by 7.7% in the third 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 during 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. 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. Adams Asset Advisors LLC increased its holdings in shares of British American Tobacco by 8.5% in the second quarter. Adams Asset Advisors LLC now owns 390,767 shares of the company’s stock valued at $12,086,000 after purchasing an additional 30,772 shares during the period. Finally, Dupree Financial Group LLC increased its holdings in shares of British American Tobacco by 45.9% in the second quarter. Dupree Financial Group LLC now owns 386,421 shares of the company’s stock valued at $11,952,000 after purchasing an additional 121,594 shares during the period. 21.44% of the stock is currently owned by hedge funds and other institutional investors.

British American Tobacco Stock Down 0.1 %

British American Tobacco stock opened at $37.35 on Tuesday. British American Tobacco p.l.c. has a 52 week low of $28.25 and a 52 week high of $39.54. The business’s 50-day moving average price is $35.91 and its 200 day moving average price is $34.48. The company has a quick ratio of 0.58, a current ratio of 0.88 and a debt-to-equity ratio of 0.60.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley lowered British American Tobacco from an “overweight” rating to an “underweight” rating and set a $33.00 price objective on the stock. in a report on Thursday, October 3rd. StockNews.com lowered British American Tobacco from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Barclays raised British American Tobacco to a “strong-buy” rating in a report on Thursday, October 17th.

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.