Arrow Investment Advisors LLC purchased a new position in shares of Reynolds American Inc. (NYSE:RAI) during the second quarter, Holdings Channel reports. The firm purchased 10,118 shares of the company’s stock, valued at approximately $546,000.
Several other hedge funds also recently modified their holdings of RAI. Americafirst Capital Management LLC bought a new stake in shares of Reynolds American during the second quarter worth $109,000. Community Bank N.A. raised its stake in shares of Reynolds American by 148.2% in the second quarter. Community Bank N.A. now owns 2,834 shares of the company’s stock worth $153,000 after buying an additional 1,692 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Reynolds American by 155.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,891 shares of the company’s stock worth $156,000 after buying an additional 1,759 shares in the last quarter. First Financial Corp IN raised its stake in shares of Reynolds American by 18.7% in the second quarter. First Financial Corp IN now owns 3,616 shares of the company’s stock worth $195,000 after buying an additional 570 shares in the last quarter. Finally, Independence Advisors LLC bought a new stake in shares of Reynolds American during the second quarter worth $219,000. 46.92% of the stock is owned by institutional investors and hedge funds.
Reynolds American Inc. (NYSE:RAI) traded down 0.28% during midday trading on Tuesday, reaching $46.80. 6,329,022 shares of the company traded hands. The company has a 50 day moving average of $49.06 and a 200-day moving average of $50.20. Reynolds American Inc. has a 12-month low of $44.06 and a 12-month high of $54.48. The stock has a market capitalization of $66.80 billion, a P/E ratio of 12.63 and a beta of 0.40.
Reynolds American (NYSE:RAI) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company earned $3.20 billion during the quarter, compared to the consensus estimate of $3.26 billion. Reynolds American had a net margin of 42.97% and a return on equity of 15.24%. Reynolds American’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 EPS. Equities analysts anticipate that Reynolds American Inc. will post $2.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were paid a $0.46 dividend. This is an increase from Reynolds American’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, September 8th. This represents a $1.84 annualized dividend and a yield of 3.93%. Reynolds American’s dividend payout ratio is presently 49.73%.
A number of analysts have commented on RAI shares. Credit Agricole SA raised shares of Reynolds American from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $52.00 to $54.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $57.00 target price (up previously from $55.00) on shares of Reynolds American in a report on Friday, July 15th. Citigroup Inc. started coverage on shares of Reynolds American in a report on Monday, September 12th. They set a “buy” rating and a $57.00 target price for the company. Vetr raised shares of Reynolds American from a “buy” rating to a “strong-buy” rating and set a $56.12 target price for the company in a report on Thursday, September 8th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $57.00 target price on shares of Reynolds American in a report on Tuesday, August 16th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Reynolds American currently has a consensus rating of “Buy” and a consensus price target of $55.86.
In other Reynolds American news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $48.03, for a total value of $31,718,291.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by corporate insiders.
Reynolds American Company Profile
Reynolds American Inc (RAI) is a holding company. The Company’s segments are RJR Tobacco, Santa Fe and American Snuff. The RJR Tobacco segment consists principally of the primary operations of R. J. Reynolds Tobacco Company. The Santa Fe segment consists of the domestic operations of Santa Fe Natural Tobacco Company, Inc (SFNTC).
Want to see what other hedge funds are holding RAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reynolds American Inc. (NYSE:RAI).
Receive News & Ratings for Reynolds American Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reynolds American Inc. and related companies with MarketBeat.com's FREE daily email newsletter.