Short Interest in British American Tobacco p.l.c. (NYSE:BTI) Grows By 33.2%

British American Tobacco p.l.c. (NYSE:BTI) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 10,100,000 shares, a growth of 33.2% from the February 28th total of 7,580,000 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 4,380,000 shares, the days-to-cover ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

BTI has been the subject of a number of research reports. UBS Group upgraded British American Tobacco from a “neutral” rating to a “buy” rating in a research note on Monday, January 27th. StockNews.com upgraded shares of British American Tobacco from a “hold” rating to a “buy” rating in a research note on Monday, February 17th.

British American Tobacco Stock Performance

BTI traded up $0.85 on Monday, hitting $41.36. 6,398,892 shares of the company traded hands, compared to its average volume of 4,570,347. The company has a 50 day moving average of $39.96 and a 200-day moving average of $37.65. British American Tobacco has a 12-month low of $28.25 and a 12-month high of $42.74. The stock has a market capitalization of $85.66 billion, a PE ratio of 8.49 and a beta of 0.50. The company has a quick ratio of 0.58, a current ratio of 0.76 and a debt-to-equity ratio of 0.65.

British American Tobacco Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, May 12th. Investors of record on Friday, March 28th will be issued a dividend of $0.7491 per share. The ex-dividend date is Friday, March 28th. British American Tobacco’s dividend payout ratio is presently 60.57%.

Hedge Funds Weigh In On British American Tobacco

Institutional investors have recently bought and sold shares of the company. SRS Capital Advisors Inc. increased its stake in shares of British American Tobacco by 294.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 703 shares of the company’s stock worth $26,000 after acquiring an additional 525 shares during the period. Ameriflex Group Inc. acquired a new position in British American Tobacco during the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of British American Tobacco during the 4th quarter worth approximately $27,000. Versant Capital Management Inc acquired a new stake in shares of British American Tobacco in the 4th quarter valued at approximately $34,000. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of British American Tobacco by 334.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,099 shares of the company’s stock valued at $40,000 after buying an additional 846 shares in the last quarter. 16.16% of the stock is owned by institutional investors and hedge funds.

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.