Victory Capital Management Inc. decreased its stake in Reynolds American Inc (NYSE:RAI) by 88.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 15,248 shares of the company’s stock after selling 120,048 shares during the period. Victory Capital Management Inc.’s holdings in Reynolds American were worth $961,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of RAI. Fir Tree Inc. purchased a new position in Reynolds American during the fourth quarter valued at $241,306,000. Bank of New York Mellon Corp boosted its position in Reynolds American by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 21,755,416 shares of the company’s stock valued at $1,371,026,000 after buying an additional 3,799,305 shares during the last quarter. Eton Park Capital Management L.P. purchased a new position in Reynolds American during the fourth quarter valued at $194,032,000. Bank of Montreal Can boosted its position in Reynolds American by 183.7% in the first quarter. Bank of Montreal Can now owns 3,872,377 shares of the company’s stock valued at $244,037,000 after buying an additional 2,507,421 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Reynolds American by 169.3% in the first quarter. Canada Pension Plan Investment Board now owns 3,453,597 shares of the company’s stock valued at $217,646,000 after buying an additional 2,171,084 shares during the last quarter. Hedge funds and other institutional investors own 46.37% of the company’s stock.
Reynolds American Inc (NYSE:RAI) opened at 65.65 on Friday. The stock has a market capitalization of $93.66 billion, a PE ratio of 28.48 and a beta of 0.44. Reynolds American Inc has a 12-month low of $43.38 and a 12-month high of $67.81. The stock’s 50 day moving average is $66.04 and its 200 day moving average is $61.56.
Reynolds American (NYSE:RAI) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Reynolds American had a return on equity of 15.64% and a net margin of 26.23%. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the company earned $0.50 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. Analysts forecast that Reynolds American Inc will post $2.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 12th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Thursday, June 8th. Reynolds American’s dividend payout ratio is 88.31%.
RAI has been the topic of several research analyst reports. Zacks Investment Research cut shares of Reynolds American from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Vetr cut shares of Reynolds American from a “hold” rating to a “sell” rating and set a $61.64 price objective on the stock. in a research report on Wednesday, April 5th. Jefferies Group LLC reiterated a “hold” rating and set a $60.00 price objective on shares of Reynolds American in a research report on Wednesday, April 26th. Piper Jaffray Companies initiated coverage on shares of Reynolds American in a research report on Thursday, May 25th. They set a “neutral” rating and a $67.00 price objective on the stock. Finally, BidaskClub cut shares of Reynolds American from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $59.40.
About Reynolds American
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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