Short Interest in British American Tobacco p.l.c. (BTI) Declines By 36.3%

British American Tobacco p.l.c. (NYSE:BTI) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 3,177,944 shares, a decline of 36.3% from the August 15th total of 4,991,339 shares. Based on an average trading volume of 3,019,986 shares, the short-interest ratio is currently 1.1 days.

BTI has been the topic of several research reports. Zacks Investment Research raised shares of British American Tobacco p.l.c. from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Monday, August 28th. Bank of America Corp set a $79.00 price objective on shares of British American Tobacco p.l.c. and gave the stock a “buy” rating in a research report on Thursday, July 6th. SBG Securities raised shares of British American Tobacco p.l.c. from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Piper Jaffray Companies initiated coverage on shares of British American Tobacco p.l.c. in a research report on Thursday, May 25th. They issued an “overweight” rating and a $59.00 price objective on the stock. Finally, Investec raised shares of British American Tobacco p.l.c. from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. British American Tobacco p.l.c. presently has a consensus rating of “Buy” and an average price target of $69.00.

British American Tobacco p.l.c. (NYSE BTI) opened at 62.63 on Wednesday. The stock has a 50 day moving average of $62.96 and a 200 day moving average of $66.86. The stock has a market cap of $116.37 billion, a P/E ratio of 21.32 and a beta of 1.05. British American Tobacco p.l.c. has a 1-year low of $52.71 and a 1-year high of $73.41.

The firm also recently disclosed a None dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, August 18th will be paid a $0.728 dividend. This represents a dividend yield of 2.28%. The ex-dividend date is Wednesday, August 16th.

Several large investors have recently modified their holdings of the company. USA Financial Portformulas Corp bought a new position in shares of British American Tobacco p.l.c. in the 2nd quarter worth approximately $660,000. Atlantic Trust LLC bought a new position in shares of British American Tobacco p.l.c. in the 2nd quarter worth approximately $252,000. Schafer Cullen Capital Management Inc. lifted its stake in shares of British American Tobacco p.l.c. by 1.0% in the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 1,278,569 shares of the company’s stock worth $87,633,000 after purchasing an additional 12,365 shares during the period. Cullen Capital Management LLC lifted its stake in shares of British American Tobacco p.l.c. by 9.6% in the 2nd quarter. Cullen Capital Management LLC now owns 91,490 shares of the company’s stock worth $6,271,000 after purchasing an additional 8,000 shares during the period. Finally, High Falls Advisors Inc lifted its stake in shares of British American Tobacco p.l.c. by 8.0% in the 2nd quarter. High Falls Advisors Inc now owns 3,654 shares of the company’s stock worth $250,000 after purchasing an additional 270 shares during the period. Hedge funds and other institutional investors own 4.65% of the company’s stock.

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About British American Tobacco p.l.c.

British American Tobacco p.l.c. is a tobacco and next generation products company. The Company’s tobacco product range includes cigarettes, fine cut (roll-your-own and make-your-own tobacco) and Swedish-style snus. Its segments include Asia-Pacific, Americas, Western Europe, and Eastern Europe, Middle East and Africa (EEMEA).

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