Alps Advisors Inc. cut its position in shares of Reynolds American Inc. (NYSE:RAI) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,800 shares of the company’s stock after selling 576 shares during the period. Alps Advisors Inc.’s holdings in Reynolds American were worth $421,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Scotia Capital Inc. raised its position in Reynolds American by 189.7% in the first quarter. Scotia Capital Inc. now owns 30,479 shares of the company’s stock worth $1,535,000 after buying an additional 19,959 shares in the last quarter. Lazard Asset Management LLC raised its position in Reynolds American by 8.8% in the first quarter. Lazard Asset Management LLC now owns 1,886,236 shares of the company’s stock worth $94,895,000 after buying an additional 153,080 shares in the last quarter. Optimum Investment Advisors acquired a new position in Reynolds American during the first quarter worth approximately $455,000. State Street Corp raised its position in Reynolds American by 3.3% in the first quarter. State Street Corp now owns 31,757,800 shares of the company’s stock worth $1,597,726,000 after buying an additional 1,003,117 shares in the last quarter. Finally, Hanlon Investment Management Inc. acquired a new position in Reynolds American during the first quarter worth approximately $4,151,000. Institutional investors own 46.92% of the company’s stock.
Shares of Reynolds American Inc. (NYSE:RAI) traded up 0.06% during mid-day trading on Friday, hitting $46.64. 4,684,767 shares of the company’s stock traded hands. The stock has a market cap of $66.57 billion, a P/E ratio of 12.58 and a beta of 0.40. The stock has a 50 day moving average price of $48.58 and a 200-day moving average price of $50.09. 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 earnings results 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 had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.26 billion. Reynolds American had a net margin of 42.97% and a return on equity of 15.24%. The firm’s quarterly revenue was up 33.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 EPS. Equities research analysts anticipate that Reynolds American Inc. will post $2.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were paid a dividend of $0.46 per share. This is a boost 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 3.95%. Reynolds American’s dividend payout ratio (DPR) is presently 49.73%.
A number of research analysts have commented on the stock. Zacks Investment Research lowered shares of Reynolds American from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. 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 research note on Friday, July 15th. Berenberg Bank assumed coverage on shares of Reynolds American in a research note on Tuesday, June 14th. They set a “hold” rating and a $54.00 price target on the stock. Cowen and Company reiterated an “outperform” rating and set a $57.00 price target on shares of Reynolds American in a research note on Tuesday, August 16th. Finally, Vetr upgraded shares of Reynolds American from a “buy” rating to a “strong-buy” rating and set a $56.12 price target on the stock in a research note on Thursday, September 8th. Four 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 stock. The company has an average rating of “Buy” and an average price target of $55.86.
In other Reynolds American news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $48.03, for a total transaction of $31,718,291.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.
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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