Spectrum Management Group Inc. boosted its stake in Reynolds American Inc. (NYSE:RAI) by 329.1% during the second quarter, Holdings Channel reports. The firm owned 7,380 shares of the company’s stock after buying an additional 5,660 shares during the period. Spectrum Management Group Inc.’s holdings in Reynolds American were worth $398,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in Reynolds American during the first quarter valued at about $18,228,000. American National Registered Investment Advisor Inc. purchased a new stake in Reynolds American during the first quarter valued at about $212,000. Geode Capital Management LLC increased its stake in Reynolds American by 1.8% in the first quarter. Geode Capital Management LLC now owns 6,394,044 shares of the company’s stock valued at $320,995,000 after buying an additional 114,893 shares during the period. Loomis Sayles & Co. L P purchased a new stake in Reynolds American during the first quarter valued at about $19,004,000. Finally, Cleararc Capital Inc. increased its stake in Reynolds American by 0.9% in the first quarter. Cleararc Capital Inc. now owns 34,967 shares of the company’s stock valued at $1,759,000 after buying an additional 307 shares during the period. 46.87% of the stock is currently owned by hedge funds and other institutional investors.
Reynolds American Inc. (NYSE:RAI) traded down 0.04% on Monday, reaching $47.25. 5,432,836 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $47.99 and a 200-day moving average of $49.94. The firm has a market capitalization of $67.44 billion, a price-to-earnings ratio of 12.75 and a beta of 0.40. Reynolds American Inc. has a 12 month low of $44.06 and a 12 month high of $54.48.
Reynolds American (NYSE:RAI) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by $0.03. Reynolds American had a return on equity of 15.24% and a net margin of 42.97%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the company earned $1.02 EPS. The firm’s revenue was up 33.0% compared to the same quarter last year. On average, equities analysts expect that Reynolds American Inc. will post $2.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, September 8th. 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. Reynolds American’s dividend payout ratio is currently 49.73%.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Reynolds American from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $57.00 target price (up previously from $55.00) on shares of Reynolds American in a research report on Friday, July 15th. Cowen and Company reissued an “outperform” rating and issued a $57.00 target price on shares of Reynolds American in a research report on Tuesday, August 16th. 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 equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $55.93.
In other Reynolds American news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. 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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