Waverton Investment Management Ltd reduced its stake in shares of Reynolds American Inc. (NYSE:RAI) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 1,139,614 shares of the company’s stock after selling 19,106 shares during the period. Reynolds American comprises approximately 4.6% of Waverton Investment Management Ltd’s investment portfolio, making the stock its 6th largest position. Waverton Investment Management Ltd’s holdings in Reynolds American were worth $61,459,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. AMP Capital Investors Ltd boosted its stake in shares of Reynolds American by 9.3% in the first quarter. AMP Capital Investors Ltd now owns 789,202 shares of the company’s stock valued at $39,839,000 after buying an additional 67,138 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Reynolds American by 4.4% in the first quarter. Envestnet Asset Management Inc. now owns 552,059 shares of the company’s stock valued at $27,774,000 after buying an additional 23,487 shares in the last quarter. Aviance Capital Management LLC boosted its stake in Reynolds American by 30.1% in the second quarter. Aviance Capital Management LLC now owns 549,100 shares of the company’s stock valued at $29,613,000 after buying an additional 127,031 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Reynolds American during the first quarter valued at approximately $402,000. Finally, Raymond James Trust N.A. boosted its stake in Reynolds American by 7.3% in the second quarter. Raymond James Trust N.A. now owns 109,494 shares of the company’s stock valued at $5,905,000 after buying an additional 7,441 shares in the last quarter. 46.92% of the stock is owned by institutional investors.
Shares of Reynolds American Inc. (NYSE:RAI) traded up 0.810% during trading on Thursday, hitting $46.675. The stock had a trading volume of 2,264,084 shares. The firm has a market capitalization of $66.62 billion, a P/E ratio of 12.594 and a beta of 0.40. The stock’s 50-day moving average price is $48.83 and its 200 day moving average price is $50.14. Reynolds American Inc. has a 1-year low of $44.06 and a 1-year high of $54.48.
Reynolds American (NYSE:RAI) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.03. The business 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%. The business’s revenue was up 33.0% compared to the same quarter last year. During the same period last year, the company posted $1.02 earnings per share. On average, analysts anticipate that Reynolds American Inc. will post $2.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were given a $0.46 dividend. The ex-dividend date of this dividend was Thursday, September 8th. This is a boost from Reynolds American’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 3.97%. Reynolds American’s dividend payout ratio is 49.73%.
Several research analysts have issued reports on RAI shares. Citigroup Inc. reiterated a “buy” rating and issued a $57.00 price target on shares of Reynolds American in a report on Monday, September 26th. Jefferies Group initiated coverage on Reynolds American in a report on Wednesday, September 21st. They set a “buy” rating and a $61.00 price target on the stock. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $57.00 price target (up from $55.00) on shares of Reynolds American in a report on Friday, July 15th. Zacks Investment Research lowered Reynolds American from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Reynolds American in a report on Thursday, September 1st. Four 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. The company currently has an average rating of “Buy” and a consensus target price of $55.86.
In related 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 stock was sold at an average price of $48.03, for a total value of $31,718,291.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.11% of the stock is 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).
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