Northpointe Capital LLC lowered its stake in shares of Reynolds American Inc. (NYSE:RAI) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 58,982 shares of the company’s stock after selling 5,691 shares during the period. Northpointe Capital LLC’s holdings in Reynolds American were worth $3,181,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Americafirst Capital Management LLC purchased a new stake in Reynolds American during the second quarter valued at approximately $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 valued at $153,000 after buying an additional 1,692 shares during the period. 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 valued at $156,000 after buying an additional 1,759 shares during the period. 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 valued at $195,000 after buying an additional 570 shares during the period. Finally, American National Registered Investment Advisor Inc. bought a new stake in shares of Reynolds American during the first quarter valued at about $212,000. Institutional investors own 46.92% of the company’s stock.
Shares of Reynolds American Inc. (NYSE:RAI) traded down 1.07% during trading on Wednesday, reaching $46.30. 5,107,733 shares of the company’s stock were exchanged. Reynolds American Inc. has a 52 week low of $44.06 and a 52 week high of $54.48. The stock has a market capitalization of $66.09 billion, a price-to-earnings ratio of 12.49 and a beta of 0.40. The stock has a 50 day moving average price of $48.83 and a 200-day moving average price of $50.14.
Reynolds American (NYSE:RAI) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.03. The company earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Reynolds American had a net margin of 42.97% and a return on equity of 15.24%. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.02 EPS. Analysts predict that Reynolds American Inc. will post $2.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Thursday, September 8th. This is an increase from Reynolds American’s previous quarterly dividend of $0.42. Reynolds American’s dividend payout ratio (DPR) is currently 49.73%.
RAI has been the topic of several research analyst reports. Berenberg Bank initiated coverage on shares of Reynolds American in a research report on Tuesday, June 14th. They issued a “hold” rating and a $54.00 target price on the stock. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $57.00 target price (up previously from $55.00) on shares of Reynolds American in a research report on Friday, July 15th. Zacks Investment Research lowered shares of Reynolds American from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Credit Agricole SA upgraded shares of Reynolds American from an “underperform” rating to an “outperform” rating and lifted their target price for the company from $52.00 to $54.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Finally, Cowen and Company reiterated an “outperform” rating and issued a $57.00 target price on shares of Reynolds American in a research report on Tuesday, August 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Reynolds American currently has an average rating of “Buy” and a consensus price target of $55.86.
In other news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is currently owned by insiders.
About Reynolds American
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).
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