Cypress Capital Management LLC WY bought a new stake in Reynolds American Inc. (NYSE:RAI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 125,065 shares of the company’s stock, valued at approximately $6,745,000. Reynolds American accounts for approximately 8.8% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 2nd largest position.
Several other large investors have also made changes to their positions in the company. AMP Capital Investors Ltd increased its stake 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 valued at $39,839,000 after buying an additional 67,138 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of 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 period. Aviance Capital Management LLC increased its stake in shares of Reynolds American by 30.1% in the second quarter. Aviance Capital Management LLC now owns 549,100 shares of the company’s stock valued at $29,613,000 after buying an additional 127,031 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Reynolds American during the first quarter valued at $402,000. Finally, Raymond James Trust N.A. increased its stake in shares of 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 period. Institutional investors and hedge funds own 46.87% of the company’s stock.
Shares of Reynolds American Inc. (NYSE:RAI) traded down 0.04% on Monday, hitting $47.25. 5,432,836 shares of the stock were exchanged. Reynolds American Inc. has a one year low of $44.06 and a one year high of $54.48. The company has a market cap of $67.44 billion, a P/E ratio of 12.75 and a beta of 0.40. The firm’s 50-day moving average is $47.99 and its 200-day moving average is $49.94.
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 analysts’ consensus estimates of $0.61 by $0.03. The firm 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 company’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 earnings per share. On average, equities analysts forecast that Reynolds American Inc. will post $2.32 EPS for the current fiscal year.
The company 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 represents a $1.84 dividend on an annualized basis and a yield of 3.89%. This is a positive change from Reynolds American’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, September 8th. Reynolds American’s payout ratio is presently 49.73%.
A number of brokerages recently commented on RAI. Citigroup Inc. restated a “buy” rating and issued a $57.00 price objective on shares of Reynolds American in a research report on Monday, September 26th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $53.00 price objective on shares of Reynolds American in a research report on Saturday. Morgan Stanley restated a “hold” rating on shares of Reynolds American in a research report on Thursday, September 1st. Jefferies Group raised their price objective on shares of Reynolds American from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. Finally, Cowen and Company restated an “outperform” rating and issued a $57.00 price objective 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 issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.93.
In other Reynolds American news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the business’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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.
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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