Gluskin Sheff & Assoc Inc. Has $25,551,000 Stake in Reynolds American Inc. (RAI)
Gluskin Sheff & Assoc Inc. cut its stake in Reynolds American Inc. (NYSE:RAI) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 473,775 shares of the company’s stock after selling 9,400 shares during the period. Reynolds American accounts for 2.2% of Gluskin Sheff & Assoc Inc.’s investment portfolio, making the stock its 16th largest position. Gluskin Sheff & Assoc Inc.’s holdings in Reynolds American were worth $25,551,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Huntington Asset Advisors Inc. bought a new stake in shares of Reynolds American during the first quarter worth $4,063,000. Monetary Management Group Inc. raised its stake in shares of Reynolds American by 1.9% in the first quarter. Monetary Management Group Inc. now owns 5,500 shares of the company’s stock worth $277,000 after buying an additional 100 shares during the last quarter. Berkeley Capital Partners LLC bought a new stake in shares of Reynolds American during the first quarter worth $256,000. Advisor Partners LLC raised its stake in shares of Reynolds American by 3.5% in the first quarter. Advisor Partners LLC now owns 22,747 shares of the company’s stock worth $1,144,000 after buying an additional 769 shares during the last quarter. Finally, USS Investment Management Ltd raised its stake in shares of Reynolds American by 86.9% in the first quarter. USS Investment Management Ltd now owns 123,747 shares of the company’s stock worth $6,226,000 after buying an additional 57,542 shares during the last quarter. Hedge funds and other institutional investors own 46.92% of the company’s stock.
Reynolds American Inc. (NYSE:RAI) traded down 1.07% during mid-day trading on Wednesday, reaching $46.30. 5,085,465 shares of the company’s stock traded hands. Reynolds American Inc. has a 52 week low of $44.06 and a 52 week high of $54.48. The stock has a market capitalization of $66.09 billion, a PE ratio of 12.49 and a beta of 0.40. The stock’s 50 day moving average is $48.96 and its 200-day moving average is $50.17.
Reynolds American (NYSE:RAI) last posted its earnings results on Tuesday, July 26th. The company reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.03. Reynolds American had a net margin of 42.97% and a return on equity of 15.24%. The company earned $3.20 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company earned $1.02 EPS. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. On average, equities analysts anticipate that Reynolds American Inc. will post $2.32 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were given a $0.46 dividend. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $1.84 dividend on an annualized basis and a yield of 3.93%. This is a boost from Reynolds American’s previous quarterly dividend of $0.42. Reynolds American’s dividend payout ratio is presently 49.73%.
A number of equities research analysts recently weighed in on RAI shares. Credit Agricole SA upgraded shares of Reynolds American from an “underperform” rating to an “outperform” rating and lifted their price objective 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. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $57.00 price objective (up previously from $55.00) on shares of Reynolds American in a report on Friday, July 15th. Citigroup Inc. started coverage on shares of Reynolds American in a report on Monday, September 12th. They set a “buy” rating and a $57.00 price objective for the company. Vetr upgraded shares of Reynolds American from a “buy” rating to a “strong-buy” rating and set a $56.12 price objective for the company in a report on Thursday, September 8th. Finally, Cowen and Company reiterated an “outperform” rating and set a $57.00 price objective on shares of Reynolds American in a report on Tuesday, August 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $55.86.
In other Reynolds American news, major shareholder American Tobacco P.L.C British sold 660,385 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by company 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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