Ridgepath Capital Management LLC Reduces Position in British American Tobacco p.l.c. (NYSE:BTI)

Ridgepath Capital Management LLC cut its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI) by 9.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,257 shares of the company’s stock after selling 680 shares during the quarter. Ridgepath Capital Management LLC’s holdings in British American Tobacco were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of BTI. FMR LLC raised its stake in shares of British American Tobacco by 67.7% during the third quarter. FMR LLC now owns 7,105,356 shares of the company’s stock worth $259,914,000 after purchasing an additional 2,868,675 shares during the last quarter. Natixis Advisors LLC raised its position in British American Tobacco by 7.7% during the 3rd quarter. Natixis Advisors LLC now owns 2,873,456 shares of the company’s stock worth $105,111,000 after buying an additional 206,117 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of British American Tobacco in the 3rd quarter worth $28,183,000. Bridgewater Associates LP acquired a new position in shares of British American Tobacco during the third quarter worth about $27,118,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in British American Tobacco by 3,153.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 572,077 shares of the company’s stock worth $20,927,000 after purchasing an additional 554,491 shares in the last quarter. 16.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on BTI shares. StockNews.com cut British American Tobacco from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. UBS Group raised shares of British American Tobacco from a “neutral” rating to a “buy” rating in a report on Monday. Morgan Stanley lowered British American Tobacco from an “overweight” rating to an “underweight” rating and set a $33.00 price target on the stock. in a research note on Thursday, October 3rd. Finally, Barclays raised British American Tobacco to a “strong-buy” rating in a research note on Thursday, October 17th.

British American Tobacco Price Performance

Shares of NYSE BTI opened at $39.68 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.58 and a debt-to-equity ratio of 0.60. The stock has a market cap of $87.67 billion, a price-to-earnings ratio of 7.95 and a beta of 0.52. The company’s 50-day moving average price is $37.06 and its 200 day moving average price is $36.36. British American Tobacco p.l.c. has a 52 week low of $28.25 and a 52 week high of $39.77.

About British American Tobacco

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