First National Trust Co. Sells 1,375 Shares of Reynolds American Inc. (RAI)
First National Trust Co. decreased its position in Reynolds American Inc. (NYSE:RAI) by 17.8% during the second quarter, Holdings Channel reports. The firm owned 6,354 shares of the company’s stock after selling 1,375 shares during the period. First National Trust Co.’s holdings in Reynolds American were worth $343,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in RAI. Americafirst Capital Management LLC acquired a new position in Reynolds American during the second quarter valued at $109,000. 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. 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. First Financial Corp IN raised its position in 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. acquired a new position in Reynolds American during the first quarter valued at $212,000. 46.92% of the stock is owned by institutional investors and hedge funds.
Shares of Reynolds American Inc. (NYSE:RAI) traded up 0.67% during trading on Thursday, reaching $46.61. The company’s stock had a trading volume of 3,207,106 shares. The stock’s 50 day moving average price is $48.71 and its 200-day moving average price is $50.12. Reynolds American Inc. has a 12 month low of $44.06 and a 12 month high of $54.48. The firm has a market cap of $66.53 billion, a PE ratio of 12.58 and a beta of 0.40.
Reynolds American (NYSE:RAI) last issued its earnings results on Tuesday, July 26th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The firm earned $3.20 billion during the quarter, compared to analyst estimates of $3.26 billion. Reynolds American had a net margin of 42.97% and a return on equity of 15.24%. The business’s quarterly revenue was up 33.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 earnings per share. Equities analysts predict that Reynolds American Inc. will post $2.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were given 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 was Thursday, September 8th. This represents a $1.84 annualized dividend and a yield of 3.95%. Reynolds American’s dividend payout ratio (DPR) is presently 49.73%.
RAI has been the topic of a number of research reports. Vetr upgraded Reynolds American from a “buy” rating to a “strong-buy” rating and set a $56.12 price target on the stock in a report on Thursday, September 8th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $57.00 price target (up from $55.00) on shares of Reynolds American in a report on Friday, July 15th. Citigroup Inc. initiated coverage on Reynolds American in a report on Monday, September 12th. They issued a “buy” rating and a $57.00 price target on the stock. Morgan Stanley restated a “hold” rating on shares of Reynolds American in a report on Thursday, September 1st. Finally, Zacks Investment Research lowered Reynolds American from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $55.86.
In related news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $48.03, for a total value of $31,718,291.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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).
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