Bellwether Investment Group LLC cut its position in Reynolds American Inc (NYSE:RAI) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,142 shares of the company’s stock after selling 188 shares during the period. Bellwether Investment Group LLC’s holdings in Reynolds American were worth $198,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of RAI. Eton Park Capital Management L.P. bought a new stake in Reynolds American during the fourth quarter worth about $194,032,000. Westchester Capital Management LLC bought a new stake in Reynolds American during the fourth quarter worth about $106,165,000. Freestone Capital Holdings LLC raised its position in shares of Reynolds American by 10.0% in the fourth quarter. Freestone Capital Holdings LLC now owns 51,737 shares of the company’s stock valued at $2,899,000 after buying an additional 4,691 shares during the last quarter. GLG Partners LP acquired a new position in shares of Reynolds American during the fourth quarter valued at $16,919,000. Finally, Fir Tree Inc. acquired a new position in shares of Reynolds American during the fourth quarter valued at $241,306,000. 46.34% of the stock is owned by institutional investors and hedge funds.
Shares of Reynolds American Inc (RAI) traded down 2.23% during midday trading on Friday, hitting $65.40. 159,452,032 shares of the stock traded hands. The stock has a 50 day moving average of $65.37 and a 200 day moving average of $63.31. Reynolds American Inc has a 1-year low of $43.38 and a 1-year high of $67.81.
Reynolds American (NYSE:RAI) last released its earnings results on Wednesday, May 3rd. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.01. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.03 billion. Reynolds American had a return on equity of 15.64% and a net margin of 26.23%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. Analysts predict that Reynolds American Inc will post $2.56 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Monday, June 12th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Thursday, June 8th. Reynolds American’s dividend payout ratio (DPR) is currently 88.31%.
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Several equities analysts recently weighed in on RAI shares. BidaskClub lowered shares of Reynolds American from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Jefferies Group LLC set a $60.00 price objective on shares of Reynolds American and gave the company a “hold” rating in a research report on Monday, July 17th. Cowen and Company reaffirmed a “hold” rating and set a $65.00 price objective on shares of Reynolds American in a research report on Tuesday, July 11th. Vetr raised shares of Reynolds American from a “sell” rating to a “hold” rating and set a $61.64 price target on the stock in a research report on Tuesday, April 11th. Finally, Piper Jaffray Companies assumed coverage on shares of Reynolds American in a research report on Thursday, May 25th. They issued a “neutral” rating and a $67.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $59.82.
Reynolds American Company Profile
Reynolds American Inc (RAI) is a holding company. The Company’s segments include RJR Tobacco, which consists of the primary operations of its subsidiary, R. J. Reynolds Tobacco Company; Santa Fe, which consists of the primary operations of its subsidiary, Santa Fe Natural Tobacco Company, Inc, and American Snuff, which consists of the primary operations of its subsidiary, American Snuff Company, LLC.
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