British American Tobacco p.l.c. (NYSE:BTI) Short Interest Down 37.3% in August

British American Tobacco p.l.c. (NYSE:BTI) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 3,879,532 shares, a decrease of 37.3% from the July 30th total of 6,183,718 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 3,897,260 shares, the days-to-cover ratio is currently 1.0 days.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Weiss Ratings upgraded shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Citigroup restated a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of British American Tobacco in a research report on Tuesday, August 11th. Wall Street Zen lowered British American Tobacco from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, BTIG Research began coverage on British American Tobacco in a report on Tuesday, July 21st. They issued a “buy” rating on the stock. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Institutional Trading of British American Tobacco

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in British American Tobacco by 34.4% during the 1st quarter. Bank of America Corp DE now owns 9,736,843 shares of the company’s stock worth $569,313,000 after purchasing an additional 2,494,576 shares in the last quarter. Orbis Allan Gray Ltd boosted its position in British American Tobacco by 20.7% in 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 in the last quarter. WCM Investment Management LLC grew its stake in shares of British American Tobacco by 3,899.7% during the first quarter. WCM Investment Management LLC now owns 2,362,818 shares of the company’s stock worth $137,658,000 after buying an additional 2,303,743 shares during the last quarter. Raymond James Financial Inc. increased its holdings in shares of British American Tobacco by 85.1% during the second quarter. Raymond James Financial Inc. now owns 2,757,559 shares of the company’s stock worth $130,515,000 after buying an additional 1,267,425 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of British American Tobacco in the 3rd quarter valued at $47,852,000. 16.16% of the stock is owned by institutional investors and hedge funds.

British American Tobacco Stock Performance

BTI stock traded up $0.28 during mid-day trading on Tuesday, hitting $55.85. The stock had a trading volume of 3,707,016 shares, compared to its average volume of 4,501,013. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.84 and a quick ratio of 0.50. British American Tobacco has a 52 week low of $49.88 and a 52 week high of $67.30. The firm has a fifty day simple moving average of $59.58 and a 200 day simple moving average of $59.91.

British American Tobacco (NYSE:BTI) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($1.10). The firm had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $16.42 billion. On average, equities research analysts expect that British American Tobacco will post 4.86 EPS for the current fiscal year.

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.