Checchi Capital Advisers LLC cut its stake in Reynolds American, Inc. (NYSE:RAI) by 7.0% during the second quarter, Holdings Channel reports. The institutional investor owned 13,831 shares of the company’s stock after selling 1,043 shares during the period. Checchi Capital Advisers LLC’s holdings in Reynolds American were worth $900,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of 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 in the last quarter. Renaissance Technologies LLC raised its position in shares of Reynolds American by 48,701.2% in the first quarter. Renaissance Technologies LLC now owns 5,514,535 shares of the company’s stock worth $347,526,000 after buying an additional 5,503,235 shares during the period. Pentwater Capital Management LP acquired a new position in shares of Reynolds American during the first quarter worth approximately $321,455,000. Bank of New York Mellon Corp raised its position in shares of 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 worth $1,371,026,000 after buying an additional 3,799,305 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Reynolds American by 169.3% in the first quarter. Canada Pension Plan Investment Board now owns 3,453,597 shares of the company’s stock worth $217,646,000 after buying an additional 2,171,084 shares during the period. 46.34% of the stock is currently owned by hedge funds and other institutional investors.

Reynolds American, Inc. (RAI) opened at 65.40 on Tuesday. Reynolds American, Inc. has a 52 week low of $43.38 and a 52 week high of $67.81. The company’s 50-day moving average price is $65.26 and its 200 day moving average price is $63.94.

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A number of brokerages have recently commented on RAI. Jefferies Group LLC reissued a “hold” rating and set a $60.00 price target on shares of Reynolds American in a report on Wednesday, April 26th. BidaskClub lowered Reynolds American from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Vetr raised Reynolds American from a “buy” rating to a “strong-buy” rating and set a $73.00 price target on the stock in a report on Monday, June 12th. Piper Jaffray Companies began coverage on Reynolds American in a report on Thursday, May 25th. They set a “neutral” rating and a $67.00 price target on the stock. Finally, Zacks Investment Research lowered Reynolds American from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price 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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Institutional Ownership by Quarter for Reynolds American (NYSE:RAI)

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