LS Investment Advisors LLC increased its position in shares of Reynolds American Inc. (NYSE:RAI) by 307.2% during the second quarter, Holdings Channel reports. The firm owned 24,842 shares of the company’s stock after buying an additional 18,741 shares during the period. LS Investment Advisors LLC’s holdings in Reynolds American were worth $1,340,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. AMP Capital Investors Ltd increased its position 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 worth $39,839,000 after buying an additional 67,138 shares during the period. Envestnet Asset Management Inc. increased its position 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 during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Reynolds American during the first quarter valued at $402,000. Raymond James Trust N.A. increased its position 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 during the last quarter. Finally, Fisher Asset Management LLC increased its position in Reynolds American by 5.9% in the second quarter. Fisher Asset Management LLC now owns 9,783 shares of the company’s stock valued at $520,000 after buying an additional 546 shares during the last quarter. Institutional investors own 46.92% of the company’s stock.
Reynolds American Inc. (NYSE:RAI) traded up 0.06% during trading on Monday, reaching $46.67. 2,553,817 shares of the company traded hands. The firm has a 50-day moving average price of $48.47 and a 200-day moving average price of $50.06. The company has a market capitalization of $66.61 billion, a P/E ratio of 12.59 and a beta of 0.40. Reynolds American Inc. has a 52 week low of $44.06 and a 52 week high of $54.48.
Reynolds American (NYSE:RAI) last posted its earnings results 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. Reynolds American had a net margin of 42.97% and a return on equity of 15.24%. The firm earned $3.20 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The business’s revenue for the quarter was up 33.0% on a year-over-year basis. Analysts forecast that Reynolds American Inc. will post $2.32 earnings per share for the current fiscal year.
The company also recently announced 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 a boost from Reynolds American’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Thursday, September 8th. Reynolds American’s payout ratio is currently 49.73%.
Several research analysts have weighed in on RAI shares. Citigroup Inc. reiterated a “buy” rating and issued a $57.00 price target on shares of Reynolds American in a research report on Monday, September 26th. Morgan Stanley reiterated a “hold” rating on shares of Reynolds American in a research report on Thursday, September 1st. Goldman Sachs Group Inc. downgraded shares of Reynolds American from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $56.00 to $53.00 in a research report on Monday, September 12th. Cowen and Company reiterated an “outperform” rating and issued a $57.00 price target on shares of Reynolds American in a research report on Tuesday, August 16th. Finally, Berenberg Bank started coverage on shares of Reynolds American in a research report on Tuesday, June 14th. They issued a “hold” rating and a $54.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $55.86.
In related news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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).
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