Sterling Investment Management LLC Sells 523 Shares of British American Tobacco p.l.c. (NYSE:BTI)

Sterling Investment Management LLC reduced its stake in British American Tobacco p.l.c. (NYSE:BTI) by 1.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 33,926 shares of the company’s stock after selling 523 shares during the quarter. Sterling Investment Management LLC’s holdings in British American Tobacco were worth $1,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BTI. BlackRock Inc. raised its holdings in shares of British American Tobacco by 90.8% in the 1st quarter. BlackRock Inc. now owns 11,558,458 shares of the company’s stock worth $405,933,000 after purchasing an additional 5,501,775 shares during the period. Federated Hermes Inc. raised its holdings in shares of British American Tobacco by 190.3% in the 1st quarter. Federated Hermes Inc. now owns 6,911,046 shares of the company’s stock worth $242,716,000 after purchasing an additional 4,530,146 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of British American Tobacco by 102.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,621,654 shares of the company’s stock worth $97,103,000 after purchasing an additional 2,843,715 shares during the period. Two Sigma Investments LP increased its holdings in British American Tobacco by 379.3% in the 4th quarter. Two Sigma Investments LP now owns 1,942,991 shares of the company’s stock worth $77,681,000 after acquiring an additional 1,537,627 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in British American Tobacco by 448.0% in the 4th quarter. Two Sigma Advisers LP now owns 1,299,900 shares of the company’s stock worth $51,970,000 after acquiring an additional 1,062,700 shares during the last quarter. 7.56% of the stock is owned by hedge funds and other institutional investors.

British American Tobacco Trading Up 0.6 %

BTI stock traded up $0.19 during mid-day trading on Tuesday, reaching $33.83. 756,329 shares of the company traded hands, compared to its average volume of 3,828,290. The company has a fifty day moving average price of $33.00 and a 200-day moving average price of $34.08. British American Tobacco p.l.c. has a 52-week low of $31.62 and a 52-week high of $42.36. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 0.51.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com initiated coverage on British American Tobacco in a report on Thursday, August 17th. They issued a “buy” rating for the company. Argus downgraded British American Tobacco from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.

British American Tobacco Company Profile

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