Meritage Portfolio Management Sells 7,518 Shares of British American Tobacco p.l.c. (NYSE:BTI)

Meritage Portfolio Management reduced its stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,439 shares of the company's stock after selling 7,518 shares during the quarter. Meritage Portfolio Management's holdings in British American Tobacco were worth $3,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. FMR LLC boosted its holdings in shares of British American Tobacco by 67.7% in the 3rd quarter. FMR LLC now owns 7,105,356 shares of the company's stock worth $259,914,000 after purchasing an additional 2,868,675 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of British American Tobacco by 7.7% during the third quarter. Natixis Advisors LLC now owns 2,873,456 shares of the company's stock worth $105,111,000 after acquiring an additional 206,117 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of British American Tobacco in the 3rd quarter valued at $28,183,000. Bridgewater Associates LP purchased a new position in British American Tobacco in the 3rd quarter worth $27,118,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in British American Tobacco by 3,153.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 572,077 shares of the company's stock worth $20,927,000 after purchasing an additional 554,491 shares during the last quarter. 16.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BTI. UBS Group upgraded British American Tobacco from a "neutral" rating to a "buy" rating in a report on Monday, January 27th. Barclays upgraded shares of British American Tobacco to a "strong-buy" rating in a report on Thursday, October 17th. Finally, StockNews.com downgraded shares of British American Tobacco from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th.

British American Tobacco Stock Up 0.3 %

BTI stock traded up $0.14 on Friday, reaching $41.76. 5,060,271 shares of the company traded hands, compared to its average volume of 4,552,530. British American Tobacco p.l.c. has a one year low of $28.25 and a one year high of $41.79. The firm has a fifty day simple moving average of $37.47 and a 200-day simple moving average of $36.74. The company has a quick ratio of 0.58, a current ratio of 0.88 and a debt-to-equity ratio of 0.60.

British American Tobacco Profile

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.