British American Tobacco p.l.c. (NYSE:BTI) Sees Significant Decrease in Short Interest

British American Tobacco p.l.c. (NYSE:BTI) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totaling 5,762,078 shares, a decline of 20.1% from the December 15th total of 7,212,709 shares. Based on an average daily trading volume, of 2,241,607 shares, the days-to-cover ratio is currently 2.6 days. Currently, 0.3% of the company’s shares are sold short. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 2,241,607 shares, the days-to-cover ratio is currently 2.6 days.

Analyst Ratings Changes

Several analysts recently commented on the stock. Morgan Stanley restated an “underweight” rating on shares of British American Tobacco in a research report on Wednesday, December 10th. Citigroup restated a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of British American Tobacco in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Finally, Kepler Capital Markets began coverage on shares of British American Tobacco in a research note on Friday, December 12th. They set a “buy” rating for the company. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Stock Up 0.2%

NYSE BTI traded up $0.13 on Monday, reaching $58.21. 2,416,013 shares of the stock traded hands, compared to its average volume of 2,603,200. British American Tobacco has a 12 month low of $35.97 and a 12 month high of $59.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.55 and a current ratio of 0.87. The firm’s fifty day simple moving average is $56.50 and its 200 day simple moving average is $54.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors grew its stake in shares of British American Tobacco by 12,870.7% in the third quarter. Capital World Investors now owns 9,470,709 shares of the company’s stock worth $502,687,000 after acquiring an additional 9,397,693 shares during the last quarter. Federated Hermes Inc. grew its position in British American Tobacco by 2,066.9% in the 2nd quarter. Federated Hermes Inc. now owns 3,476,001 shares of the company’s stock worth $164,519,000 after purchasing an additional 3,315,589 shares during the last quarter. Orbis Allan Gray Ltd raised its position in shares of British American Tobacco by 20.7% during the second quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock valued at $686,473,000 after buying an additional 2,482,737 shares during the last quarter. Citigroup Inc. lifted its stake in shares of British American Tobacco by 833.5% in the second quarter. Citigroup Inc. now owns 2,121,918 shares of the company’s stock valued at $100,430,000 after buying an additional 1,894,617 shares during the period. Finally, Capital International Investors grew its position in British American Tobacco by 3.0% during the third quarter. Capital International Investors now owns 64,057,419 shares of the company’s stock worth $3,399,352,000 after buying an additional 1,891,042 shares in the last quarter. Hedge funds and other institutional investors own 16.16% of the company’s stock.

About British American Tobacco

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world’s largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT’s core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.