British American Tobacco shares hit one-year low as institutions adjust holdings

According to a report by Watchlist News on the 26th, shares of world-renowned tobacco company British American Tobacco (NYSE: BTI) hit a new one-year low of $29.55 during Thursday trading.

Several equity research firms have issued reports on British American Tobacco. In a report dated October 5, StockNews.com initiated coverage of British American Tobacco and gave the stock a "buy" rating.

In a September 1 report, Argus downgraded British American Tobacco from "buy" to "hold." Finally, in a research note dated September 25, Citigroup initiated coverage of the company and assigned it a "buy" rating.

Three analysts have rated the stock "hold," while two have given it a "buy" rating. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold."

Institutional investors have recently adjusted their holdings in the company. Avantax Advisory Services Inc. increased its position in British American Tobacco during the first quarter by acquiring an additional 281 shares, and now holds 18,028 shares valued at $633,000.

Meridian Investment Counsel Inc. increased its holdings in British American Tobacco during the first quarter by purchasing an additional 300 shares, and now owns 38,412 shares valued at $1.349 million.

EverSource Wealth Advisors LLC increased its stake in British American Tobacco during the second quarter by purchasing an additional 305 shares, and now holds 4,362 shares valued at $145,000.