BlackRock Advisors LLC recently announced the acquisition of new stake in British American Tobacco Plc ADR (NYSE:BTI). The institutional investor has increased its shareholding in the Consumer Defensive company by 9.13% to 11.43 million shares with purchase of 0.96 million shares. This fresh investment now brings its stake to 0.51% valued currently at $364.45 million. In addition, Capital Research & Management Co raised its holdings by 1.21 million to 11.06 million shares. And Capital Research & Management Co has lifted its position by 30.29% or 0.89 million shares – to 3.83 million shares.
With over 6.1 million British American Tobacco Plc ADR (BTI) shares trading Tuesday and a closing price of $29.80 on the day, the dollar volume was approximately $181.67 million. The shares have shown a negative half year performance of -11.41% and its price on 01/02/24 gained nearly 1.74%. Currently, there are 2.23B common shares owned by the public and among those 2.23B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for BTI have a consensus price objective of $30.84. The analysts have set the share’s price value over the next 12 months at a high of $43.00 and a low of $23.00. The average price target is 36.15% above its recent price level and a downside to the estimated low will see the stock lose -29.57% over that period. But an upside of 30.7% will see the stock hit the forecast high price target while median target price for the stock is $29.00.
The top 3 mutual fund holders in British American Tobacco Plc ADR are American Mutual Fund, Washington Mutual Investors Fund, and BlackRock Equity Dividend Fund. American Mutual Fund owns 11.72 million shares of the company’s stock, all valued at over $373.61 million. The company bought an additional 1.17 million shares recently to bring their total holdings to about 0.52% of the shares outstanding. Washington Mutual Investors Fund sold 26013.0 shares to see its total holdings shrink to 9.59 million shares valued at over $305.74 million and representing 0.43% of the shares outstanding. BlackRock Equity Dividend Fund sold -0.14 million shares to bring its total holdings to over 8.09 million shares at a value of $258.11 million. BlackRock Equity Dividend Fund now owns shares totaling to 0.36% of the shares outstanding.
Shares of British American Tobacco Plc ADR (NYSE: BTI) opened at $29.20, down -$0.09 from a prior closing price of $29.29. The company’s stock has a 5-day price change of 2.23% and -2.90% over the past three months. BTI shares are trading 1.74% year to date (YTD), with the 12-month market performance down to -25.46% lower. It has a 12-month low price of $28.35 and touched a high of $40.75 over the same period. BTI has an average intraday trading volume of 4.88 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.34%, -2.02%, and -8.88% respectively.
Institutional ownership of British American Tobacco Plc ADR (NYSE: BTI) shares accounts for 6.48% of the company’s 2.23B shares outstanding. Mutual fund holders own 2.90%, while other institutional holders and individual stakeholders account for 3.56% and — respectively.
It has a market capitalization of $66.47B and a beta (3y monthly) value of 0.57. The stock’s trailing 12-month PE ratio is 6.43, while the earnings-per-share (ttm) stands at $4.64. The company has a PEG of 0.54 and a Quick Ratio of 0.58 with the debt-to-equity ratio at 0.58. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.09% over the week and 1.36% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to increase by 5.08%, and 0.05% over the next financial year. EPS should grow at an annualized rate of 11.80% over the next five years, compared to -31.31% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate British American Tobacco Plc ADR (BTI) as a “Strong Buy” at a consensus score of 1.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BTI, a number of firms have released research notes about the stock. Morgan Stanley stated their Overweight rating for the stock in a research note on November 01, 2023, with the firm’s price target at $38.
