Cetera Advisors LLC reduced its stake in shares of Reynolds American, Inc. (NYSE:RAI) by 25.7% during the third quarter, Holdings Channel reports. The institutional investor owned 5,869 shares of the company’s stock after selling 2,031 shares during the period. Cetera Advisors LLC’s holdings in Reynolds American were worth $276,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Capital Research Global Investors raised its position in shares of Reynolds American by 39.1% in the third quarter. Capital Research Global Investors now owns 32,092,980 shares of the company’s stock valued at $1,513,184,000 after buying an additional 9,023,817 shares during the last quarter. Independent Franchise Partners LLP acquired a new position in shares of Reynolds American during the third quarter valued at $117,419,000. Capital World Investors raised its position in shares of Reynolds American by 5.1% in the third quarter. Capital World Investors now owns 45,689,868 shares of the company’s stock valued at $2,154,277,000 after buying an additional 2,200,500 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Reynolds American by 15.0% in the third quarter. BlackRock Fund Advisors now owns 12,352,589 shares of the company’s stock valued at $582,425,000 after buying an additional 1,607,471 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Reynolds American during the third quarter valued at $65,640,000. Institutional investors own 46.62% of the company’s stock.
Reynolds American, Inc. (NYSE:RAI) traded up 0.05% during mid-day trading on Friday, hitting $60.57. The stock had a trading volume of 4,928,666 shares. The stock has a market cap of $86.36 billion, a P/E ratio of 15.74 and a beta of 0.42. Reynolds American, Inc. has a one year low of $43.38 and a one year high of $60.91. The company has a 50 day moving average price of $58.06 and a 200 day moving average price of $52.84.
Reynolds American (NYSE:RAI) last released its earnings results on Thursday, February 9th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Reynolds American had a return on equity of 15.40% and a net margin of 48.57%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts anticipate that Reynolds American, Inc. will post $2.54 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Wednesday, February 22nd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.44%. Reynolds American’s dividend payout ratio is currently 43.29%.
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RAI has been the subject of several analyst reports. lowered Reynolds American from an “outperform” rating to an “underperform” rating and increased their price objective for the stock from $52.00 to $55.00 in a research report on Monday, October 24th. Vetr lowered Reynolds American from a “buy” rating to a “hold” rating and set a $56.74 price objective for the company. in a research report on Monday, October 31st. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $53.00 price objective on shares of Reynolds American in a research report on Saturday, October 15th. Berenberg Bank upgraded Reynolds American from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday, October 21st. Finally, Wells Fargo & Company restated an “outperform” rating on shares of Reynolds American in a research report on Sunday, October 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Reynolds American presently has an average rating of “Hold” and a consensus price target of $56.41.
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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