Calamos Advisors LLC reduced its position in Reynolds American Inc. (NYSE:RAI) by 44.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 900,564 shares of the company’s stock after selling 706,583 shares during the period. Calamos Advisors LLC’s holdings in Reynolds American were worth $48,567,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Americafirst Capital Management LLC bought a new stake in shares of Reynolds American during the second quarter worth $109,000. Community Bank N.A. boosted its position in 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 in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in 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 in the last quarter. First Financial Corp IN boosted its position in 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 in the last quarter. Finally, American National Registered Investment Advisor Inc. acquired a new position in Reynolds American during the first quarter valued at $212,000. 46.92% of the stock is owned by institutional investors.
Reynolds American Inc. (NYSE:RAI) traded up 0.17% during midday trading on Tuesday, hitting $47.89. The stock had a trading volume of 3,953,887 shares. Reynolds American Inc. has a 1-year low of $42.94 and a 1-year high of $54.48. The company’s 50 day moving average is $49.41 and its 200 day moving average is $50.33. The company has a market cap of $68.36 billion, a price-to-earnings ratio of 12.92 and a beta of 0.36.
Reynolds American (NYSE:RAI) last issued its earnings results on Tuesday, July 26th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 last year, the business posted $1.02 earnings per share. The company’s revenue for the quarter was up 33.0% on a year-over-year basis. On average, equities analysts anticipate 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 will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be paid a $0.46 dividend. This is an increase from Reynolds American’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 3.84%. The ex-dividend date is Thursday, September 8th. Reynolds American’s dividend payout ratio (DPR) is 49.73%.
Several equities analysts recently weighed in on RAI shares. Vetr raised Reynolds American from a “buy” rating to a “strong-buy” rating and set a $56.12 price objective for the company in a research report on Thursday, September 8th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $57.00 price objective (up previously from $55.00) on shares of Reynolds American in a research report on Friday, July 15th. Citigroup Inc. started coverage on Reynolds American in a research report on Monday, September 12th. They set a “buy” rating and a $57.00 price objective for the company. Morgan Stanley reissued a “hold” rating on shares of Reynolds American in a research report on Thursday, September 1st. Finally, Zacks Investment Research cut Reynolds American from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $55.86.
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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