Cove Street Capital LLC Invests $1.05 Million in British American Tobacco p.l.c. (NYSE:BTI)

Cove Street Capital LLC purchased a new position in British American Tobacco p.l.c. (NYSE:BTI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 28,921 shares of the company’s stock, valued at approximately $1,050,000.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC lifted its position in shares of British American Tobacco by 67.7% during the 3rd quarter. FMR LLC now owns 7,105,356 shares of the company’s stock valued at $259,914,000 after buying an additional 2,868,675 shares in the last quarter. Raymond James Financial Inc. purchased a new position in British American Tobacco during the fourth quarter valued at $55,620,000. Arrowstreet Capital Limited Partnership increased its stake in shares of British American Tobacco by 24.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,094,244 shares of the company’s stock worth $221,343,000 after purchasing an additional 1,196,020 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of British American Tobacco during the 4th quarter worth about $31,480,000. Finally, Public Employees Retirement System of Ohio purchased a new position in British American Tobacco in the 3rd quarter valued at about $28,183,000. Hedge funds and other institutional investors own 16.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BTI. UBS Group raised British American Tobacco from a “neutral” rating to a “buy” rating in a report on Monday, January 27th. StockNews.com upgraded British American Tobacco from a “hold” rating to a “buy” rating in a report on Monday, February 17th.

British American Tobacco Trading Down 1.6 %

BTI opened at $40.53 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.76 and a quick ratio of 0.58. The company’s 50 day simple moving average is $39.86 and its two-hundred day simple moving average is $37.65. The firm has a market capitalization of $83.94 billion, a price-to-earnings ratio of 8.32 and a beta of 0.50. British American Tobacco p.l.c. has a 1-year low of $28.25 and a 1-year high of $42.74.

British American Tobacco Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, May 12th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.7491 per share. The ex-dividend date is Friday, March 28th. British American Tobacco’s dividend payout ratio (DPR) is currently 60.57%.

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.