Streetbeat News

BTI

British American Tobacco p.l.c.

https://www.bat.com

Industry

Tobacco

British American Tobacco p.l.c. provides tobacco and nicotine products to consumers in the Americas, Europe, the Asia-Pacific, the Middle East, Africa, and the United States. It offers vapour, heated, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company provides its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Natural American Spirit, and Camel brands. The company distributes its products to retail outlets. British American Tobacco p.l.c. was founded in 1902 and is based in London, the United Kingdom.

Open

40.99

Mkt cap

91B

Volume

4.5M

High

41.42

P/E Ratio

23.50

52-wk high

42.74

Low

40.97

Div yield

0.07

52-wk low

28.25

Morgan Stanley analyst Rashad Kawan has initiated coverage on British American Tobacco (NYSE:BTI) with an Overweight rating and a price target of $38.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 2:50 pm

Altria Group's subsidiary, NJOY, has filed a lawsuit against 34 manufacturers, distributors, and online retailers of illicit disposable e-vapor products. The suit alleges that these companies violate California's flavor ban law, federal law, and compete illegally against companies that comply with the laws. The litigation seeks a nationwide injunction against the import, marketing, and sale of these illicit products and significant compensatory and punitive damages.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 3:37 pm

British American Tobacco's (NYSE:BTI) short percent of float has fallen 23.53% since its last report, with 2.94 million shares sold short, which is 0.13% of all regular shares available for trading. This decrease in short interest could signal a more bullish market sentiment towards the stock. Compared to its peers, British American Tobacco has less short interest.

Portfolio Pulse from Benzinga Insights

October 17, 2023 | 4:00 pm

The FDA has banned the sale of menthol Vuse electronic cigarettes and a fruit-flavored nicotine product from Vuse. The products are manufactured by British American Tobacco's Reynolds American business. The FDA is also considering action against the company's tobacco-flavored vapes. Altria Group, which owns a stake in Juul, has also faced scrutiny from the FDA. The rise and fall of Juul is documented in a Netflix documentary.

Portfolio Pulse from Aaron Bry

October 13, 2023 | 3:33 pm

The FDA has ordered Reynolds American, a subsidiary of British American Tobacco PLC (NYSE: BTI) (OTC: BTAFF), to stop selling menthol-flavored versions of its Vuse Alto e-cigarette. The product line accounted for approximately 40% of the U.S. e-cigarette market in retail stores over the past year. The FDA cited insufficient evidence of public health benefits for adult smokers that outweigh the risks to young individuals. The menthol flavor made up about 29% of e-cigarette sales in the past year, amounting to $1.6 billion.

Portfolio Pulse from Vandana Singh

October 12, 2023 | 5:45 pm

British American Tobacco (BAT) has expressed disappointment at the FDA's Marketing Denial Orders (MDOs) for Vuse Alto's Menthol and Mixed Berry products. The company plans to challenge the decision and seek a stay of enforcement. The FDA's decision was based on the absence of long-term consumer switching data for these products. BAT argues that this decision contradicts proven science and the FDA's goal of reducing the health effects of tobacco use. The company also expressed concern about the FDA allowing the proliferation of youth-appealing vapor products.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:23 pm

The FDA has reportedly rejected the Vuse Alto Menthol-Flavored E-cigarettes. The product is a part of the portfolio of Altria Group Inc (MO) and its rejection could impact the company's revenues.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 3:41 pm

British American Tobacco's (NYSE:BTI) short percent of float has fallen 23.53% since its last report, with 2.94 million shares sold short, which is 0.13% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards the stock. Compared to its peers, BTI has less short interest as a percentage of float, with an average of 2.38%.

Portfolio Pulse from Benzinga Insights

September 29, 2023 | 7:30 pm

British American Tobacco PLC (NYSE:BTI) has agreed to sell its Russian and Belarusian businesses to a consortium led by BTI Russia's management team. The businesses will be renamed ITMS Group, and BTI will not have a presence in Russia or Belarus or gain financially from ongoing sales in these markets. The company reaffirmed its FY23 outlook for organic constant currency revenue growth of 3%-5% and adjusted EPS growth in constant currencies in mid-single digits.

Portfolio Pulse from Lekha Gupta

September 07, 2023 | 3:09 pm

British American Tobacco (BTI) has signed an agreement to sell its businesses in Russia and Belarus to local management. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 8:50 am

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