Wellington Management Group LLP Sells 477,925 Shares of Reynolds American Inc (NYSE:RAI)
Wellington Management Group LLP cut its position in Reynolds American Inc (NYSE:RAI) by 95.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,791 shares of the company’s stock after selling 477,925 shares during the period. Wellington Management Group LLP’s holdings in Reynolds American were worth $1,310,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its stake in Reynolds American by 7.0% in the first quarter. Quadrant Capital Group LLC now owns 2,999 shares of the company’s stock worth $182,000 after buying an additional 195 shares in the last quarter. Baystate Wealth Management LLC boosted its stake in Reynolds American by 1.7% in the first quarter. Baystate Wealth Management LLC now owns 3,075 shares of the company’s stock worth $197,000 after buying an additional 50 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Reynolds American during the first quarter worth approximately $202,000. SVA Plumb Wealth Management LLC bought a new stake in Reynolds American during the first quarter worth approximately $205,000. Finally, Parsec Financial Management Inc. bought a new stake in Reynolds American during the first quarter worth approximately $208,000. 46.26% of the stock is currently owned by hedge funds and other institutional investors.
Reynolds American Inc (NYSE RAI) opened at 66.30 on Friday. Reynolds American Inc has a one year low of $43.38 and a one year high of $67.81. The stock’s 50 day moving average price is $65.67 and its 200-day moving average price is $62.92. The company has a market capitalization of $94.59 billion, a P/E ratio of 28.76 and a beta of 0.41.
Reynolds American (NYSE:RAI) last announced its earnings results on Wednesday, May 3rd. The company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Reynolds American had a return on equity of 15.64% and a net margin of 26.23%. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts forecast that Reynolds American Inc will post $2.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 12th were paid a dividend of $0.51 per share. The ex-dividend date was Thursday, June 8th. This represents a $2.04 annualized dividend and a yield of 3.08%. Reynolds American’s dividend payout ratio (DPR) is 88.31%.
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A number of research firms have recently commented on RAI. Cowen and Company reissued a “hold” rating and issued a $65.00 target price on shares of Reynolds American in a research note on Tuesday, July 11th. 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. BidaskClub cut Reynolds American from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Vetr raised Reynolds American from a “buy” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a research note on Monday, June 12th. Finally, Piper Jaffray Companies began coverage on Reynolds American in a research note on Thursday, May 25th. They issued a “neutral” rating and a $67.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average 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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