Founders Capital Management reduced its position in shares of Reynolds American Inc (NYSE:RAI) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,845 shares of the company’s stock after selling 200 shares during the period. Reynolds American makes up about 1.8% of Founders Capital Management’s investment portfolio, making the stock its 23rd largest position. Founders Capital Management’s holdings in Reynolds American were worth $2,006,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Reynolds American by 3,610.0% in the first quarter. BlackRock Inc. now owns 46,203,722 shares of the company’s stock worth $2,911,755,000 after buying an additional 44,958,351 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Reynolds American by 48,701.2% in the first quarter. Renaissance Technologies LLC now owns 5,514,535 shares of the company’s stock worth $347,526,000 after buying an additional 5,503,235 shares during the last quarter. Pentwater Capital Management LP bought a new stake in Reynolds American during the first quarter worth $321,455,000. Bank of New York Mellon Corp boosted its stake 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 worth $1,371,026,000 after buying an additional 3,799,305 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake 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 worth $244,037,000 after buying an additional 2,507,421 shares during the last quarter. Institutional investors and hedge funds own 46.34% of the company’s stock.
Reynolds American Inc (NYSE RAI) traded down 2.23% during trading on Friday, reaching $65.40. The company’s stock had a trading volume of 159,452,032 shares. The firm has a 50-day moving average price of $65.38 and a 200-day moving average price of $63.55. Reynolds American Inc has a 52 week low of $43.38 and a 52 week high of $67.81.
Reynolds American (NYSE:RAI) last posted its quarterly earnings results 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. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.03 billion. Reynolds American had a net margin of 26.23% and a return on equity of 15.64%. Reynolds American’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 EPS. Equities research analysts forecast that Reynolds American Inc will post $2.56 EPS for the current year.
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A number of analysts have weighed in on RAI shares. BidaskClub cut Reynolds American from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Jefferies Group LLC set a $60.00 target price on Reynolds American and gave the stock a “hold” rating in a research note on Monday, July 17th. Cowen and Company reissued a “hold” rating and set a $65.00 target price on shares of Reynolds American in a research note on Tuesday, July 11th. Vetr raised Reynolds American from a “sell” rating to a “hold” rating and set a $61.64 target price for the company in a research note on Tuesday, April 11th. Finally, Piper Jaffray Companies began coverage on Reynolds American in a research note on Thursday, May 25th. They set a “neutral” rating and a $67.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Reynolds American currently has a consensus rating of “Hold” and a consensus price target of $59.82.
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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