KBC Group NV decreased its position in Reynolds American Inc. (NYSE:RAI) by 3.1% during the third quarter, Holdings Channel reports. The fund owned 195,611 shares of the company’s stock after selling 6,360 shares during the period. KBC Group NV’s holdings in Reynolds American were worth $9,223,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Americafirst Capital Management LLC bought a new stake in Reynolds American during the second quarter worth $109,000. Feltz Wealth PLAN Inc. bought a new stake in Reynolds American during the second quarter worth $130,000. Quadrant Capital Group LLC boosted its stake in Reynolds American by 7.4% in the second quarter. Quadrant Capital Group LLC now owns 2,928 shares of the company’s stock worth $150,000 after buying an additional 203 shares during the last quarter. D. Scott Neal Inc. boosted its stake in Reynolds American by 5,888.9% in the third quarter. D. Scott Neal Inc. now owns 3,234 shares of the company’s stock worth $152,000 after buying an additional 3,180 shares during the last quarter. Finally, Community Bank N.A. boosted its stake in Reynolds American by 148.2% in the second quarter. Community Bank N.A. now owns 2,834 shares of the company’s stock worth $153,000 after buying an additional 1,692 shares during the last quarter. 46.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Reynolds American Inc. (NYSE:RAI) traded up 0.11% during trading on Monday, hitting $54.67. 6,687,555 shares of the stock traded hands. Reynolds American Inc. has a 12 month low of $43.38 and a 12 month high of $56.65. The company has a 50 day moving average price of $52.19 and a 200 day moving average price of $50.74. The firm has a market cap of $77.95 billion, a price-to-earnings ratio of 14.20 and a beta of 0.36.
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. Reynolds American had a net margin of 44.47% and a return on equity of 15.13%. The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the business posted $0.55 EPS. Reynolds American’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts anticipate that Reynolds American Inc. will post $2.30 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the stock. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $53.00 price target on shares of Reynolds American in a report on Saturday, October 15th. Citigroup Inc. set a $57.00 price target on shares of Reynolds American and gave the stock a “buy” rating in a report on Thursday, October 20th. Jefferies Group assumed coverage on shares of Reynolds American in a report on Wednesday, September 21st. They set a “buy” rating and a $61.00 price target on the stock. Vetr lowered shares of Reynolds American from a “strong-buy” rating to a “buy” rating and set a $57.08 price target on the stock. in a report on Monday, October 24th. Finally, Zacks Investment Research upgraded shares of Reynolds American from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Reynolds American presently has an average rating of “Buy” and a consensus target price of $56.56.
In related news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $48.03, for a total transaction of $31,718,291.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Debra Ann Crew sold 10,818 shares of the stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $54.54, for a total transaction of $590,013.72. Following the transaction, the chief executive officer now directly owns 41,835 shares in the company, valued at approximately $2,281,680.90. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
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).