British American Tobacco (NYSE:BTI) Reaches New 1-Year High – Still a Buy?

British American Tobacco p.l.c. (NYSE:BTI)’s share price hit a new 52-week high on Monday . The company traded as high as $59.43 and last traded at $59.4420, with a volume of 470894 shares trading hands. The stock had previously closed at $59.16.

Analyst Upgrades and Downgrades

BTI has been the topic of several recent research reports. Morgan Stanley reissued an “underweight” rating on shares of British American Tobacco in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of British American Tobacco in a research report on Wednesday, January 21st. Finally, Kepler Capital Markets began coverage on shares of British American Tobacco in a research report on Friday, December 12th. They set a “buy” rating for the company. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, British American Tobacco currently has an average rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Stock Performance

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 company’s fifty day simple moving average is $56.98 and its two-hundred day simple moving average is $55.13.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BTI. Capital World Investors lifted its stake in British American Tobacco by 12,870.7% during the 3rd quarter. Capital World Investors now owns 9,470,709 shares of the company’s stock valued at $502,687,000 after acquiring an additional 9,397,693 shares in 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 in the last quarter. Orbis Allan Gray Ltd increased its stake in British American Tobacco by 20.7% in the 2nd 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 position in shares of British American Tobacco by 833.5% during the 2nd quarter. Citigroup Inc. now owns 2,121,918 shares of the company’s stock worth $100,430,000 after buying an additional 1,894,617 shares in the last quarter. Finally, Capital International Investors grew its holdings in shares of British American Tobacco by 3.0% in the third quarter. Capital International Investors now owns 64,057,419 shares of the company’s stock valued at $3,399,352,000 after acquiring 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.