Viking Fund Management LLC Cuts Stake in British American Tobacco p.l.c. (NYSE:BTI)

Viking Fund Management LLC decreased its stake in shares of British American Tobacco p.l.c. (NYSE:BTI) by 12.7% in the third quarter, Holdings Channel.com reports. The fund owned 157,500 shares of the company’s stock after selling 23,000 shares during the period. Viking Fund Management LLC’s holdings in British American Tobacco were worth $5,761,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of BTI. Larson Financial Group LLC increased its holdings in shares of British American Tobacco by 153.7% in the first quarter. Larson Financial Group LLC now owns 1,007 shares of the company’s stock worth $31,000 after purchasing an additional 610 shares during the last quarter. Mather Group LLC. increased its stake in British American Tobacco by 4,526.9% in the 2nd quarter. Mather Group LLC. now owns 1,203 shares of the company’s stock worth $37,000 after acquiring an additional 1,177 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of British American Tobacco by 79.9% during the 2nd quarter. Addison Advisors LLC now owns 1,227 shares of the company’s stock worth $38,000 after acquiring an additional 545 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of British American Tobacco in the first quarter valued at $46,000. Finally, City State Bank raised its stake in British American Tobacco by 5,016.7% during the first quarter. City State Bank now owns 1,535 shares of the company’s stock valued at $47,000 after purchasing an additional 1,505 shares in the last quarter. 21.44% of the stock is currently owned by institutional investors.

British American Tobacco Price Performance

BTI traded up $0.07 during trading hours on Friday, reaching $35.18. 3,653,274 shares of the company’s stock traded hands, compared to its average volume of 4,840,867. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.58. The firm has a 50-day moving average price of $36.91 and a 200 day moving average price of $33.16. British American Tobacco p.l.c. has a 52-week low of $28.25 and a 52-week high of $39.54.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BTI. StockNews.com downgraded shares of British American Tobacco from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 11th. Morgan Stanley downgraded British American Tobacco from an “overweight” rating to an “underweight” rating and set a $33.00 price objective on the stock. in a research report on Thursday, October 3rd.

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.