British American Tobacco Shares Hit One-Year Low as Investment Firms Adjust Holdings

British American Tobacco shares fell to a 52-week low of $29.55. Several equity research analysts have issued ratings on the company, with three analysts giving it a “hold” rating and two assigning a “buy” rating.

Breaking news on October 27: according to financial website Watchlistnews, shares of British American Tobacco were trading at a 52-week low during Thursday’s session this week. The stock fell as low as $29.55 and last traded at $29.65, with volume reaching 3,060,724 shares, down from the previous close of $29.86. 

Recently, several equity research analysts released reports on British American Tobacco. StockNews.com initiated coverage of British American Tobacco in a report dated October 5 and gave the stock a “buy” rating. 

However, Argus downgraded British American Tobacco from “buy” to “hold” in a report issued on September 1. Finally, Citigroup initiated coverage of British American Tobacco in a research report on September 25 and gave the company a “buy” rating. At present, three analysts have assigned a “hold” rating and two have assigned a “buy” rating. According to MarketBeat.com, the company’s current consensus rating is “hold.” 

Institutional investors have also recently adjusted their holdings in the company. Avantax Advisory Services Inc. increased its stake in British American Tobacco by 1.6% in the first quarter and now holds 18,028 shares valued at $633,000. Meridian Investment Counsel Inc. increased its position by 0.8% in the first quarter and now holds 38,412 shares valued at $1,349,000. Institutional investors and hedge funds own 7.56% of the company’s shares. 

British American Tobacco provides vaping devices, heated tobacco devices, and modern oral nicotine products worldwide; cigarettes; and traditional oral products such as snus and moist snuff. Its brand portfolio includes 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 Double Happiness.