Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of British American Tobacco PLC (NYSE:BTI) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,623 shares of the company’s stock after selling 489 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in British American Tobacco were worth $498,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Prudential Financial Inc. bought a new stake in shares of British American Tobacco during the 3rd quarter valued at $2,720,000. Midas Management Corp boosted its stake in British American Tobacco by 22.2% in the 4th quarter. Midas Management Corp now owns 55,000 shares of the company’s stock worth $1,752,000 after purchasing an additional 10,000 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in British American Tobacco by 22.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 643,164 shares of the company’s stock worth $29,991,000 after purchasing an additional 118,500 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in British American Tobacco by 77.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,944 shares of the company’s stock worth $476,000 after purchasing an additional 6,534 shares in the last quarter. Finally, Jefferies Group LLC bought a new position in British American Tobacco in the 3rd quarter worth about $1,432,000. Hedge funds and other institutional investors own 6.32% of the company’s stock.
A number of brokerages recently issued reports on BTI. Zacks Investment Research upgraded shares of British American Tobacco from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Tuesday, February 12th. Piper Jaffray Companies upgraded shares of British American Tobacco from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 29th. Cowen cut shares of British American Tobacco from an “outperform” rating to a “market perform” rating in a research note on Monday, January 7th. Finally, Royal Bank of Canada upgraded shares of British American Tobacco from an “underperform” rating to a “sector perform” rating in a research note on Thursday, November 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.00.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, March 22nd will be paid a $0.6745 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend is Thursday, March 21st. British American Tobacco’s payout ratio is 68.21%.
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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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