First Merchants Corp Has $216,000 Position in Reynolds American Inc. (RAI)
First Merchants Corp held its stake in shares of Reynolds American Inc. (NYSE:RAI) during the second quarter, according to its most recent filing with the SEC. The fund owned 4,000 shares of the company’s stock at the end of the second quarter. First Merchants Corp’s holdings in Reynolds American were worth $216,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. Americafirst Capital Management LLC purchased a new stake in shares of Reynolds American during the second quarter valued at $109,000. Community Bank N.A. increased its stake 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. Benjamin F. Edwards & Company Inc. increased its stake in shares of 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. First Financial Corp IN increased its stake in shares of Reynolds American by 18.7% in the second quarter. First Financial Corp IN now owns 3,616 shares of the company’s stock valued at $195,000 after buying an additional 570 shares in the last quarter. Finally, American National Registered Investment Advisor Inc. bought a new stake in shares of Reynolds American during the first quarter valued at approximately $212,000. Institutional investors and hedge funds own 46.92% of the company’s stock.
Shares of Reynolds American Inc. (NYSE:RAI) traded up 0.70% on Thursday, reaching $48.78. The company’s stock had a trading volume of 3,455,992 shares. The company’s 50 day moving average is $49.45 and its 200-day moving average is $50.39. The stock has a market cap of $69.63 billion, a PE ratio of 13.16 and a beta of 0.36. Reynolds American Inc. has a 1-year low of $42.09 and a 1-year high of $54.48.
Reynolds American (NYSE:RAI) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Reynolds American had a return on equity of 15.24% and a net margin of 42.97%. The business earned $3.20 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the company posted $1.02 EPS. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. On average, equities analysts predict that Reynolds American Inc. will post $2.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be paid a $0.46 dividend. This is a boost from Reynolds American’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.84 annualized dividend and a dividend yield of 3.77%. Reynolds American’s dividend payout ratio is presently 49.73%.
Several brokerages have recently commented on RAI. Zacks Investment Research downgraded Reynolds American from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th. Jefferies Group began coverage on Reynolds American in a report on Wednesday. They set a “buy” rating and a $61.00 target price for the company. Morgan Stanley reaffirmed a “hold” rating on shares of Reynolds American in a report on Thursday, September 1st. Berenberg Bank began coverage on Reynolds American in a report on Tuesday, June 14th. They set a “hold” rating and a $54.00 target price for the company. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $57.00 target price on shares of Reynolds American in a report on Tuesday, August 16th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $55.86.
About Reynolds American
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).
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