British American Tobacco: Shares Hit One-year Low, Investors Adjust Holdings
On October 27th, according to Watchlistnews, British American Tobacco stock hit a 52-week low during Thursday's trading. The stock dropped to a minimum of $29.55 and eventually traded at a price of $29.65, with a volume of 3,060,724 shares, a decrease from the previous closing price of $29.86.
Recently, several equity research analysts conducted research reports on British American Tobacco, a multinational tobacco company. StockNews.com, an American stock news website, covered British American Tobacco for the first time in their report on October 5th, providing a "buy" rating for the company's stock.
However, Argus Research downgraded British American Tobacco from a "buy" rating to a "hold" rating in their report on September 1st. In contrast, Citigroup covered British American Tobacco for the first time in their research report on September 25th and gave the company a "buy" rating. Currently, three analysts have a "hold" rating while two analysts have a "buy" rating for the company. According to MarketBeat.com, the current consensus rating for British American Tobacco is a "hold".
In recent news, institutional investors have made adjustments to their holdings in the company. Avantax Advisory Services increased its stake in British American Tobacco by 1.6% during the first quarter, now holding 18,028 shares worth $633,000. Meridian Investment Advisors also raised its stake in British American Tobacco by 0.8% in the first quarter, with 38,412 shares valued at $1,349,000. Overall, institutional investors and hedge funds now collectively own 7.56% of the company.
British American Tobacco (BAT), a global company, offers a range of modern products including e-cigarettes, tobacco heaters, and oral nicotine. In addition, they also produce traditional oral products such as chewing gum and snuff. The company's product portfolio includes well-known brands such as 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.
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