Whittier Trust Co. of Nevada Inc. increased its position in Reynolds American Inc. (NYSE:RAI) by 5.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 30,328 shares of the company’s stock after buying an additional 1,502 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Reynolds American were worth $1,636,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Americafirst Capital Management LLC acquired a new position in Reynolds American during the second quarter worth $109,000. Quadrant Capital Group LLC raised its position in Reynolds American by 7.4% in the second quarter. Quadrant Capital Group LLC now owns 2,928 shares of the company’s stock worth $150,000 after buying an additional 203 shares during the last quarter. Community Bank N.A. raised its position in Reynolds American by 148.2% in the second quarter. Community Bank N.A. now owns 2,834 shares of the company’s stock worth $153,000 after buying an additional 1,692 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Reynolds American by 155.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,891 shares of the company’s stock worth $156,000 after buying an additional 1,759 shares during the last quarter. Finally, First Financial Corp IN raised its position in Reynolds American by 18.7% in the second quarter. First Financial Corp IN now owns 3,616 shares of the company’s stock worth $195,000 after buying an additional 570 shares during the last quarter. Institutional investors own 46.92% of the company’s stock.
Shares of Reynolds American Inc. (NYSE:RAI) traded down 1.09% during mid-day trading on Wednesday, hitting $46.29. The company had a trading volume of 3,945,049 shares. The company has a market capitalization of $66.07 billion, a PE ratio of 12.49 and a beta of 0.40. The company’s 50-day moving average is $48.96 and its 200 day moving average is $50.17. Reynolds American Inc. has a one year low of $44.06 and a one year high of $54.48.
Reynolds American (NYSE:RAI) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.03. The business 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 was up 33.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 earnings per share. On average, equities research 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 $0.46 dividend. The ex-dividend date 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 dividend yield of 3.93%. Reynolds American’s payout ratio is presently 49.73%.
RAI has been the topic of a number of research reports. Credit Agricole SA raised Reynolds American from an “underperform” rating to an “outperform” rating and upped their price objective 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. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $57.00 price objective (up from $55.00) on shares of Reynolds American in a report on Friday, July 15th. Citigroup Inc. initiated coverage on Reynolds American in a report on Monday, September 12th. They issued a “buy” rating and a $57.00 price objective on the stock. Vetr raised Reynolds American from a “buy” rating to a “strong-buy” rating and set a $56.12 price objective on the stock in a report on Thursday, September 8th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Reynolds American in a report on Tuesday, August 16th. Four research 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. Reynolds American presently has an average rating of “Buy” and an average target price of $55.86.
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 on Wednesday, September 28th. The stock was sold at an average price of $48.03, for a total value of $31,718,291.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.
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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