Huntington National Bank increased its stake in Reynolds American Inc. (NYSE:RAI) by 46.2% during the second quarter, Holdings Channel reports. The firm owned 20,522 shares of the company’s stock after buying an additional 6,488 shares during the period. Huntington National Bank’s holdings in Reynolds American were worth $1,107,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Artemis Investment Management LLP increased its position in Reynolds American by 132.9% in the second quarter. Artemis Investment Management LLP now owns 2,380,516 shares of the company’s stock worth $128,347,000 after buying an additional 1,358,456 shares during the last quarter. State Street Corp increased its position in Reynolds American by 3.3% in the first quarter. State Street Corp now owns 31,757,800 shares of the company’s stock worth $1,597,726,000 after buying an additional 1,003,117 shares during the last quarter. Bank of Montreal Can acquired a new position in Reynolds American during the second quarter worth about $51,452,000. Canada Pension Plan Investment Board increased its position in Reynolds American by 101,633.9% in the first quarter. Canada Pension Plan Investment Board now owns 791,490 shares of the company’s stock worth $39,820,000 after buying an additional 790,712 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in Reynolds American by 176.6% in the second quarter. Retirement Systems of Alabama now owns 1,158,650 shares of the company’s stock worth $62,486,000 after buying an additional 739,728 shares during the last quarter. Institutional investors and hedge funds own 46.87% of the company’s stock.
Shares of Reynolds American Inc. (NYSE:RAI) traded down 0.04% during trading on Monday, hitting $47.25. 5,432,836 shares of the stock traded hands. Reynolds American Inc. has a 52 week low of $44.06 and a 52 week high of $54.48. The firm has a market cap of $67.44 billion, a P/E ratio of 12.75 and a beta of 0.40. The company has a 50-day moving average of $47.99 and a 200-day moving average of $49.94.
Reynolds American (NYSE:RAI) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 33.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 earnings per share. On average, analysts forecast that Reynolds American Inc. will post $2.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were issued 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 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Thursday, September 8th. Reynolds American’s payout ratio is 49.73%.
A number of research analysts have issued reports on the stock. Vetr upgraded shares of Reynolds American from a “buy” rating to a “strong-buy” rating and set a $56.12 target price on the stock in a research report on Thursday, September 8th. Zacks Investment Research downgraded shares of Reynolds American from a “hold” rating to a “sell” rating in a research report on Wednesday, July 27th. Goldman Sachs Group Inc. restated a “buy” rating and set a $57.00 target price (up from $55.00) on shares of Reynolds American in a research report on Friday, July 15th. Jefferies Group assumed 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 on the stock. Finally, Credit Agricole SA upgraded shares of Reynolds American from an “underperform” rating to an “outperform” rating and upped their target price for the company from $52.00 to $54.00 in a research 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 issued a buy rating and two have given a strong buy rating to the company. Reynolds American currently has a consensus rating of “Buy” and an average target price of $55.93.
In other 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 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 legal filing with the SEC, which is available through the SEC website. Insiders own 0.11% of the company’s stock.
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).
Want to see what other hedge funds are holding RAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reynolds American Inc. (NYSE:RAI).
Receive News & Ratings for Reynolds American Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reynolds American Inc. and related companies with MarketBeat.com's FREE daily email newsletter.