Calamos Wealth Management LLC reduced its position in Reynolds American Inc. (NYSE:RAI) by 21.1% during the second quarter, Holdings Channel reports. The fund owned 48,875 shares of the company’s stock after selling 13,094 shares during the period. Calamos Wealth Management LLC’s holdings in Reynolds American were worth $2,636,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Americafirst Capital Management LLC bought a new position in shares of Reynolds American during the second quarter worth $109,000. Community Bank N.A. raised its position 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 worth $153,000 after buying an additional 1,692 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position 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 worth $156,000 after buying an additional 1,759 shares during the last quarter. First Financial Corp IN raised its position 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 worth $195,000 after buying an additional 570 shares during the last quarter. Finally, American National Registered Investment Advisor Inc. bought a new position in shares of Reynolds American during the first quarter worth $212,000. 46.92% of the stock is owned by hedge funds and other institutional investors.
Shares of Reynolds American Inc. (NYSE:RAI) traded down 1.59% on Monday, reaching $47.81. 3,631,611 shares of the company were exchanged. Reynolds American Inc. has a 12-month low of $42.85 and a 12-month high of $54.48. The firm has a market capitalization of $68.24 billion, a PE ratio of 12.90 and a beta of 0.36. The company’s 50 day moving average is $49.44 and its 200 day moving average is $50.37.
Reynolds American (NYSE:RAI) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by $0.03. The company earned $3.20 billion during the quarter, compared to analyst estimates of $3.26 billion. Reynolds American had a return on equity of 15.24% and a net margin of 42.97%. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 earnings per share. Analysts forecast that Reynolds American Inc. will post $2.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.85%. This is a boost from Reynolds American’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, September 8th. Reynolds American’s dividend payout ratio (DPR) is presently 49.73%.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Reynolds American from a “hold” rating to a “sell” rating in a research note on Wednesday, July 27th. Jefferies Group started coverage on shares of Reynolds American in a research note on Wednesday, September 21st. They issued a “buy” rating and a $61.00 target price for the company. Morgan Stanley reissued a “hold” rating on shares of Reynolds American in a research report on Thursday, September 1st. Berenberg Bank started coverage on shares of Reynolds American in a research report on Tuesday, June 14th. They set a “hold” rating and a $54.00 price target on the stock. Finally, Cowen and Company reissued an “outperform” rating and set a $57.00 price target on shares of Reynolds American in a research report on Tuesday, August 16th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Reynolds American currently has an average rating of “Buy” and an average target price of $55.86.
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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