Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Reynolds American, Inc. (NYSE:RAI) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,605,853 shares of the company’s stock after buying an additional 120,434 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Reynolds American were worth $169,485,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. increased 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 valued at $2,911,755,000 after buying an additional 44,958,351 shares during the last quarter. State Street Corp increased its stake in Reynolds American by 3.3% in the first quarter. State Street Corp now owns 33,143,266 shares of the company’s stock valued at $2,089,076,000 after buying an additional 1,061,990 shares during the last quarter. Bank of New York Mellon Corp increased 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 valued at $1,371,026,000 after buying an additional 3,799,305 shares during the last quarter. American International Group Inc. increased its stake in Reynolds American by 1.2% in the first quarter. American International Group Inc. now owns 9,262,283 shares of the company’s stock valued at $583,709,000 after buying an additional 112,610 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Reynolds American by 8.2% in the first quarter. Geode Capital Management LLC now owns 7,553,177 shares of the company’s stock valued at $475,273,000 after buying an additional 571,672 shares during the last quarter. 46.34% of the stock is owned by institutional investors and hedge funds.
Reynolds American, Inc. (RAI) traded down 2.23% during mid-day trading on Tuesday, reaching $65.40. The company’s stock had a trading volume of 159,452,032 shares. The stock’s 50-day moving average is $65.25 and its 200-day moving average is $64.00. Reynolds American, Inc. has a 12 month low of $43.38 and a 12 month high of $67.81.
WARNING: This piece of content was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://stocknewstimes.com/2017/08/22/sumitomo-mitsui-trust-holdings-inc-raises-position-in-reynolds-american-inc-rai.html.
Several analysts have recently weighed in on RAI shares. BidaskClub downgraded Reynolds American from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Cowen and Company reissued a “hold” rating and issued a $65.00 target price on shares of Reynolds American in a report on Tuesday, July 11th. Zacks Investment Research downgraded Reynolds American from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Piper Jaffray Companies started coverage on Reynolds American in a report on Thursday, May 25th. They issued a “neutral” rating and a $67.00 target price for the company. Finally, Jefferies Group LLC set a $60.00 target price on Reynolds American and gave the company a “hold” rating in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $59.82.
Reynolds American Company Profile
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.
Want to see what other hedge funds are holding RAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reynolds American, Inc. (NYSE:RAI).
Receive News & Ratings for Reynolds American Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reynolds American Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
