British American Tobacco p.l.c. (NYSE:BTI – Get Rating) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 2,240,000 shares, an increase of 17.3% from the August 31st total of 1,910,000 shares. Based on an average trading volume of 2,540,000 shares, the short-interest ratio is presently 0.9 days.
British American Tobacco Stock Down 1.3 %
NYSE BTI traded down $0.48 during mid-day trading on Friday, hitting $35.50. The stock had a trading volume of 3,051,820 shares, compared to its average volume of 2,773,727. The firm's 50 day moving average is $39.76 and its 200 day moving average is $41.58. British American Tobacco has a twelve month low of $33.62 and a twelve month high of $47.24. The company has a quick ratio of 0.52, a current ratio of 0.88 and a debt-to-equity ratio of 0.54.
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Hedge Funds Weigh In On British American Tobacco
A number of hedge funds have recently modified their holdings of the business. GQG Partners LLC raised its position in British American Tobacco by 91.3% in the 1st quarter. GQG Partners LLC now owns 29,035,870 shares of the company's stock valued at $1,224,077,000 after purchasing an additional 13,859,376 shares in the last quarter. JPMorgan Chase & Co. raised its position in British American Tobacco by 8,377.2% in the 1st quarter. JPMorgan Chase & Co. now owns 2,912,004 shares of the company's stock valued at $122,770,000 after purchasing an additional 2,877,653 shares in the last quarter. Skye Global Management LP raised its position in British American Tobacco by 109.9% in the 4th quarter. Skye Global Management LP now owns 4,198,000 shares of the company's stock valued at $157,047,000 after purchasing an additional 2,198,000 shares in the last quarter. Bank of America Corp DE raised its position in British American Tobacco by 20.0% in the 1st quarter. Bank of America Corp DE now owns 7,132,011 shares of the company's stock valued at $300,686,000 after purchasing an additional 1,189,386 shares in the last quarter. Finally, Capital International Investors raised its position in British American Tobacco by 12.6% in the 1st quarter. Capital International Investors now owns 9,449,045 shares of the company's stock valued at $400,788,000 after purchasing an additional 1,060,090 shares in the last quarter. 6.70% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of British American Tobacco from GBX 3,780 ($45.67) to GBX 4,000 ($48.33) in a report on Tuesday, July 5th. StockNews.com upgraded British American Tobacco from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Barclays lifted their target price on British American Tobacco from GBX 4,200 ($50.75) to GBX 4,400 ($53.17) in a research report on Tuesday, June 7th.
About British American Tobacco
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British American Tobacco p.l.c. provides tobacco and nicotine products to consumers worldwide. It offers vapour, tobacco heating, and modern oral nicotine products; combustible products; and traditional oral products, such as snus and moist snuff. The company offers its products under the Kent, Dunhill, Lucky Strike, Pall Mall, Rothmans, Camel, Newport, Natural American Spirit, being Vapour, THP, and Modern Oral brands.
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