First Merchants Corp held its stake in shares of Reynolds American Inc. (NYSE:RAI) during the second quarter, according to its most recent filing with the SEC. The fund owned 4,000 shares of the company’s stock at the end of the second quarter. First Merchants Corp’s holdings in Reynolds American were worth $216,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Fisher Asset Management LLC raised its stake in shares of Reynolds American by 0.9% in the first quarter. Fisher Asset Management LLC now owns 9,237 shares of the company’s stock valued at $450,000 after buying an additional 83 shares during the period. FirstMerit Bank N A Trustee increased its stake in shares of Reynolds American by 2.4% in the first quarter. FirstMerit Bank N A Trustee now owns 5,132 shares of the company’s stock valued at $258,000 after buying an additional 119 shares in the last quarter. Boston Advisors LLC bought a new stake in shares of Reynolds American during the first quarter valued at approximately $287,000. Tompkins Financial Corp increased its stake in shares of Reynolds American by 2.6% in the first quarter. Tompkins Financial Corp now owns 11,666 shares of the company’s stock valued at $587,000 after buying an additional 300 shares in the last quarter. Finally, Raymond James Trust N.A. increased its stake in shares of Reynolds American by 3.9% in the first quarter. Raymond James Trust N.A. now owns 102,053 shares of the company’s stock valued at $5,135,000 after buying an additional 3,800 shares in the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.
Shares of Reynolds American Inc. (NYSE:RAI) traded up 0.70% on Thursday, reaching $48.78. The company’s stock had a trading volume of 3,455,992 shares. The stock has a market cap of $69.63 billion, a PE ratio of 13.16 and a beta of 0.36. Reynolds American Inc. has a 1-year low of $42.09 and a 1-year high of $54.48. The company’s 50 day moving average is $49.45 and its 200-day moving average is $50.39.
Reynolds American (NYSE:RAI) last issued 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 firm earned $3.20 billion during the quarter, compared to the consensus estimate of $3.26 billion. Reynolds American had a net margin of 42.97% and a return on equity of 15.24%. The business’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 earnings per share. On average, equities analysts predict that Reynolds American Inc. will post $2.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be given a $0.46 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.77%. This is an increase from Reynolds American’s previous quarterly dividend of $0.42. Reynolds American’s payout ratio is currently 49.73%.
RAI has been the subject of several analyst reports. Jefferies Group initiated coverage on Reynolds American in a report on Wednesday. They set a “buy” rating and a $61.00 target price for the company. Citigroup Inc. initiated coverage on Reynolds American in a report on Monday, September 12th. They set a “buy” rating and a $57.00 target price for the company. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $57.00 target price (up from $55.00) on shares of Reynolds American in a report on Friday, July 15th. Zacks Investment Research downgraded Reynolds American from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Reynolds American in a report on Thursday, September 1st. 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 company. The company currently has an average rating of “Buy” and a consensus price target 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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