Gluskin Sheff & Assoc Inc. decreased its stake in Reynolds American Inc. (NYSE:RAI) by 1.9% during the second quarter, Holdings Channel reports. The institutional investor owned 473,775 shares of the company’s stock after selling 9,400 shares during the period. Reynolds American makes up approximately 2.2% of Gluskin Sheff & Assoc Inc.’s holdings, making the stock its 16th largest position. Gluskin Sheff & Assoc Inc.’s holdings in Reynolds American were worth $25,551,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of RAI. Dynamic Advisors Solutions LLC boosted its stake in shares of Reynolds American by 0.6% in the second quarter. Dynamic Advisors Solutions LLC now owns 6,886 shares of the company’s stock valued at $371,000 after buying an additional 44 shares in the last quarter. Williams Jones & Associates LLC boosted its stake in shares of Reynolds American by 0.8% in the first quarter. Williams Jones & Associates LLC now owns 6,186 shares of the company’s stock valued at $311,000 after buying an additional 50 shares in the last quarter. Citizens Financial Group Inc RI boosted its stake in shares of Reynolds American by 1.2% in the first quarter. Citizens Financial Group Inc RI now owns 5,519 shares of the company’s stock valued at $278,000 after buying an additional 66 shares in the last quarter. Conning Inc. boosted its stake in shares of Reynolds American by 0.4% in the second quarter. Conning Inc. now owns 20,304 shares of the company’s stock valued at $1,095,000 after buying an additional 80 shares in the last quarter. Finally, Monetary Management Group Inc. boosted its stake in shares of Reynolds American by 1.9% in the first quarter. Monetary Management Group Inc. now owns 5,500 shares of the company’s stock valued at $277,000 after buying an additional 100 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of Reynolds American Inc. (NYSE:RAI) traded down 1.07% during trading on Wednesday, hitting $46.30. 5,085,465 shares of the stock were exchanged. The stock’s 50 day moving average price is $48.96 and its 200 day moving average price is $50.17. The stock has a market cap of $66.09 billion, a PE ratio of 12.49 and a beta of 0.40. Reynolds American Inc. has a one year low of $44.06 and a one year high of $54.48.
Reynolds American (NYSE:RAI) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.61 by $0.03. The company had revenue of $3.20 billion for 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 business’s revenue was up 33.0% on a year-over-year basis. During the same period last year, the firm posted $1.02 earnings per share. Equities research analysts predict that Reynolds American Inc. will post $2.32 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, September 8th. This is a positive change from Reynolds American’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 3.93%. Reynolds American’s payout ratio is 49.73%.
Several analysts have recently issued reports on the stock. Vetr raised shares of Reynolds American from a “buy” rating to a “strong-buy” rating and set a $56.12 price target on the stock in a research report on Thursday, September 8th. Zacks Investment Research cut shares of Reynolds American from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $57.00 target price (up previously from $55.00) on shares of Reynolds American in a report on Friday, July 15th. Jefferies Group initiated coverage on shares of Reynolds American in a report on Wednesday, September 21st. They issued a “buy” rating and a $61.00 target price on the stock. Finally, Credit Agricole SA raised shares of Reynolds American from an “underperform” rating to an “outperform” rating and raised their target price for the company from $52.00 to $54.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $55.86.
In related news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The stock was 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 SEC, which can be accessed through the SEC website. Corporate 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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