British American Tobacco (NYSE:BTI) Sees Large Volume Increase – Still a Buy?

British American Tobacco p.l.c. (NYSE:BTI) saw unusually-strong trading volume on Tuesday . Approximately 8,590,421 shares were traded during trading, an increase of 90% from the previous session’s volume of 4,531,318 shares.The stock last traded at $62.32 and had previously closed at $62.74.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Citigroup restated a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Wall Street Zen downgraded British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings raised British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

British American Tobacco Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57. The business has a fifty day moving average of $60.96 and a 200 day moving average of $59.48.

Institutional Trading of British American Tobacco

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital International Investors raised its stake in shares of British American Tobacco by 0.5% in the 4th quarter. Capital International Investors now owns 64,389,481 shares of the company’s stock valued at $3,645,500,000 after acquiring an additional 332,062 shares during the period. Capital Research Global Investors raised its position in British American Tobacco by 1.2% in the fourth quarter. Capital Research Global Investors now owns 22,333,402 shares of the company’s stock valued at $1,264,512,000 after purchasing an additional 264,511 shares during the period. Orbis Allan Gray Ltd boosted 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 worth $686,473,000 after buying an additional 2,482,737 shares during the period. Bank of America Corp DE boosted its position in shares of British American Tobacco by 34.4% during the first quarter. Bank of America Corp DE now owns 9,736,843 shares of the company’s stock worth $569,313,000 after buying an additional 2,494,576 shares during the period. Finally, Capital World Investors grew its stake in shares of British American Tobacco by 0.5% in the fourth quarter. Capital World Investors now owns 9,518,567 shares of the company’s stock valued at $538,935,000 after buying an additional 47,858 shares in the last quarter. 16.16% of the stock is owned by institutional investors and hedge funds.

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.