Chevy Chase Trust Holdings Inc. decreased its position in Reynolds American Inc. (NYSE:RAI) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 695,455 shares of the company’s stock after selling 16,589 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Reynolds American were worth $32,790,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in RAI. Americafirst Capital Management LLC acquired a new position in Reynolds American during the second quarter worth approximately $109,000. Feltz Wealth PLAN Inc. purchased a new position in Reynolds American during the second quarter valued at approximately $130,000. Quadrant Capital Group LLC raised its position in 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. Community Bank N.A. raised its position in 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. Finally, Benjamin F. Edwards & Company Inc. raised its position in Reynolds American by 155.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,891 shares of the company’s stock valued at $156,000 after buying an additional 1,759 shares in the last quarter. 46.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of Reynolds American Inc. (NYSE:RAI) traded up 0.17% on Friday, hitting $53.84. 5,869,860 shares of the stock were exchanged. The company has a market cap of $76.76 billion, a price-to-earnings ratio of 13.99 and a beta of 0.36. The company has a 50 day moving average of $51.00 and a 200 day moving average of $50.57. Reynolds American Inc. has a 52-week low of $43.38 and a 52-week high of $56.65.
Reynolds American (NYSE:RAI) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by $0.04. Reynolds American had a return on equity of 15.13% and a net margin of 44.47%. The firm earned $3.21 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities research analysts forecast that Reynolds American Inc. will post $2.30 earnings per share for the current year.
Several research firms have commented on RAI. Vetr raised shares of Reynolds American from a “buy” rating to a “strong-buy” rating and set a $56.12 target price on the stock in a report on Thursday, September 8th. Zacks Investment Research raised shares of Reynolds American from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup Inc. set a $57.00 target price on shares of Reynolds American and gave the company a “buy” rating in a report on Thursday, October 20th. Jefferies Group began coverage on shares of Reynolds American in a report on Wednesday, September 21st. They issued a “buy” rating and a $61.00 target price on the stock. Finally, Credit Agricole SA raised shares of Reynolds American from an “underperform” rating to an “outperform” rating and raised their target price for the company from $52.00 to $54.00 in a report on Monday, August 8th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $56.56.
In related news, CEO Debra Ann Crew sold 10,818 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $54.54, for a total value of $590,013.72. Following the transaction, the chief executive officer now directly owns 41,835 shares in the company, valued at $2,281,680.90. The transaction was disclosed in a document filed 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 that occurred on 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 corporate 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).