M&T Bank Corp increased its stake in Reynolds American Inc. (NYSE:RAI) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,264 shares of the company’s stock after buying an additional 5,855 shares during the period. M&T Bank Corp’s holdings in Reynolds American were worth $6,283,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Americafirst Capital Management LLC bought a new position in shares of Reynolds American during the second quarter valued at $109,000. Feltz Wealth PLAN Inc. bought a new position in shares of Reynolds American during the second quarter valued at $130,000. Quadrant Capital Group LLC raised its position in shares of Reynolds American by 7.4% in the second quarter. Quadrant Capital Group LLC now owns 2,928 shares of the company’s stock valued at $150,000 after buying an additional 203 shares in the last quarter. D. Scott Neal Inc. raised its position in shares of Reynolds American by 5,888.9% in the third quarter. D. Scott Neal Inc. now owns 3,234 shares of the company’s stock valued at $152,000 after buying an additional 3,180 shares in the last quarter. Finally, Community Bank N.A. raised its position in shares of Reynolds American by 148.2% in the second quarter. Community Bank N.A. now owns 2,834 shares of the company’s stock valued at $153,000 after buying an additional 1,692 shares in the last quarter. 46.63% of the stock is owned by institutional investors.
Reynolds American Inc. (NYSE:RAI) traded up 0.48% during mid-day trading on Friday, hitting $54.61. 4,010,291 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $51.81 and a 200 day moving average of $50.71. The stock has a market capitalization of $77.86 billion, a P/E ratio of 14.19 and a beta of 0.36. Reynolds American Inc. has a 52 week low of $43.38 and a 52 week high of $56.65.
Reynolds American (NYSE:RAI) last released its earnings results on Wednesday, October 19th. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.31 billion. Reynolds American had a net margin of 44.47% and a return on equity of 15.13%. Reynolds American’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 earnings per share. Equities analysts forecast that Reynolds American Inc. will post $2.30 earnings per share for the current fiscal year.
Several research analysts have weighed in on RAI shares. Citigroup Inc. set a $57.00 price objective on shares of Reynolds American and gave the stock a “buy” rating in a report on Thursday, October 20th. Berenberg Bank raised shares of Reynolds American from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, October 21st. Jefferies Group lifted their price target on shares of Reynolds American from $61.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, October 11th. Vetr lowered shares of Reynolds American from a “strong-buy” rating to a “buy” rating and set a $57.08 price target for the company. in a report on Monday, October 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $52.00 price target on shares of Reynolds American in a report on Saturday, October 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Reynolds American has a consensus rating of “Buy” and an average target price of $56.56.
In other news, CEO Debra Ann Crew sold 10,818 shares of the company’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $54.54, for a total value of $590,013.72. Following the sale, the chief executive officer now owns 41,835 shares of the company’s stock, valued at approximately $2,281,680.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder American Tobacco P.L.C British sold 660,385 shares of the company’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $48.03, for a total transaction of $31,718,291.55. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.
Reynolds American Company Profile