Conning Inc. raised its stake in Reynolds American Inc. (NYSE:RAI) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,304 shares of the company’s stock after buying an additional 80 shares during the period. Conning Inc.’s holdings in Reynolds American were worth $1,095,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of RAI. WESPAC Advisors LLC increased its stake in Reynolds American by 17.3% in the second quarter. WESPAC Advisors LLC now owns 15,614 shares of the company’s stock valued at $842,000 after buying an additional 2,298 shares during the last quarter. Bank of Montreal Can acquired a new stake in Reynolds American during the second quarter valued at approximately $51,452,000. MSI Financial Services Inc increased its stake in Reynolds American by 0.6% in the second quarter. MSI Financial Services Inc now owns 129,195 shares of the company’s stock valued at $6,967,000 after buying an additional 754 shares during the last quarter. First Niagara Bank increased its stake in Reynolds American by 6.9% in the second quarter. First Niagara Bank now owns 25,743 shares of the company’s stock valued at $1,388,000 after buying an additional 1,670 shares during the last quarter. Finally, Shell Asset Management Co. increased its stake in Reynolds American by 23.7% in the second quarter. Shell Asset Management Co. now owns 126,389 shares of the company’s stock valued at $6,816,000 after buying an additional 24,186 shares during the last quarter. 46.92% of the stock is owned by institutional investors.
Reynolds American Inc. (NYSE:RAI) traded up 0.17% on Tuesday, hitting $47.89. 3,953,887 shares of the stock were exchanged. Reynolds American Inc. has a 12 month low of $43.02 and a 12 month high of $54.48. The company has a 50-day moving average of $49.37 and a 200-day moving average of $50.30. The stock 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 quarterly earnings results on Tuesday, July 26th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.03. Reynolds American had a net margin of 42.97% and a return on equity of 15.24%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the business earned $1.02 earnings per share. The company’s revenue was up 33.0% on a year-over-year basis. On average, equities analysts predict that Reynolds American Inc. will post $2.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be given a dividend of $0.46 per share. This is a boost from Reynolds American’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis 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 research firms have recently commented on RAI. Citigroup Inc. reissued a “buy” rating and set a $57.00 target price on shares of Reynolds American in a research report on Monday. Jefferies Group began coverage on shares of Reynolds American in a research report on Wednesday, September 21st. They set a “buy” rating and a $61.00 target price for the company. Goldman Sachs Group Inc. downgraded shares of Reynolds American from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $56.00 to $53.00 in a research report on Monday, September 12th. Vetr raised shares of Reynolds American from a “buy” rating to a “strong-buy” rating and set a $56.12 target price for the company in a research report on Thursday, September 8th. Finally, Morgan Stanley reissued a “hold” rating on shares of Reynolds American in a research 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. 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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