Concert Wealth Management Inc. increased its stake in Reynolds American Inc. (NYSE:RAI) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,823 shares of the company’s stock after buying an additional 226 shares during the period. Concert Wealth Management Inc.’s holdings in Reynolds American were worth $420,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of RAI. State Street Corp raised its position in Reynolds American by 3.3% in the first quarter. State Street Corp now owns 31,757,800 shares of the company’s stock valued at $1,597,726,000 after buying an additional 1,003,117 shares during the last quarter. Geode Capital Management LLC raised its position 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 last quarter. UBS Asset Management Americas Inc. raised its position in Reynolds American by 6.1% in the first quarter. UBS Asset Management Americas Inc. now owns 3,805,749 shares of the company’s stock valued at $191,467,000 after buying an additional 219,862 shares during the last quarter. Artemis Investment Management LLP raised its position in Reynolds American by 132.9% in the second quarter. Artemis Investment Management LLP now owns 2,380,516 shares of the company’s stock valued at $128,347,000 after buying an additional 1,358,456 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Reynolds American by 8.8% in the first quarter. Lazard Asset Management LLC now owns 1,886,236 shares of the company’s stock valued at $94,895,000 after buying an additional 153,080 shares during the last quarter. Institutional investors own 46.92% of the company’s stock.
Shares of Reynolds American Inc. (NYSE:RAI) traded up 0.21% during midday trading on Thursday, hitting $47.18. The stock had a trading volume of 3,339,969 shares. The company’s 50 day moving average is $48.24 and its 200 day moving average is $50.01. The firm has a market cap of $67.34 billion, a P/E ratio of 12.73 and a beta of 0.40. Reynolds American Inc. has a 52 week low of $44.06 and a 52 week high of $54.48.
Reynolds American (NYSE:RAI) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.03. The company earned $3.20 billion during the quarter, compared to analyst estimates of $3.26 billion. Reynolds American had a net margin of 42.97% and a return on equity of 15.24%. The company’s quarterly revenue was up 33.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 EPS. On average, equities analysts predict that Reynolds American Inc. will post $2.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were paid a $0.46 dividend. This is a boost from Reynolds American’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $1.84 annualized dividend and a dividend yield of 3.91%. Reynolds American’s dividend payout ratio is presently 49.73%.
RAI has been the subject of several analyst reports. Credit Agricole SA upgraded Reynolds American from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $52.00 to $54.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $57.00 price objective (up previously 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 set a “buy” rating and a $57.00 price objective on the stock. Vetr upgraded 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 reiterated an “outperform” rating and set a $57.00 price objective on shares of Reynolds American in a report on Tuesday, August 16th. Four investment 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 currently has a consensus rating of “Buy” and a consensus price target of $55.93.
In other news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by insiders.
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).