Capstone Asset Management Co. reduced its position in shares of Reynolds American Inc (NYSE:RAI) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,136 shares of the company’s stock after selling 876 shares during the period. Capstone Asset Management Co.’s holdings in Reynolds American were worth $789,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in RAI. Hudson Bay Capital Management LP bought a new position in Reynolds American during the fourth quarter valued at $16,807,000. Waldron LP raised its position in Reynolds American by 1.4% in the first quarter. Waldron LP now owns 21,417 shares of the company’s stock valued at $1,349,000 after buying an additional 294 shares during the period. Capital Fund Management S.A. raised its position in Reynolds American by 2,030.6% in the first quarter. Capital Fund Management S.A. now owns 46,063 shares of the company’s stock valued at $2,903,000 after buying an additional 43,901 shares during the period. Pentwater Capital Management LP acquired a new position in Reynolds American during the first quarter worth $321,455,000. Finally, Jackson Grant Investment Advisers Inc. raised its position in Reynolds American by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 4,256 shares of the company’s stock worth $268,000 after buying an additional 25 shares during the last quarter. 46.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Reynolds American Inc (RAI) opened at 65.40 on Friday. Reynolds American Inc has a 52 week low of $43.38 and a 52 week high of $67.81. The stock has a 50 day moving average price of $65.27 and a 200 day moving average price of $63.85.
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RAI has been the topic of a number of recent analyst reports. BidaskClub lowered Reynolds American from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Cowen and Company restated a “hold” rating and issued a $65.00 price target on shares of Reynolds American in a research note on Tuesday, July 11th. Zacks Investment Research downgraded Reynolds American from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. 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 price target for the company. Finally, Jefferies Group LLC set a $60.00 target price on Reynolds American and gave the company a “hold” rating in a research report on Monday, July 17th. 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 issued a strong buy rating to the stock. Reynolds American presently has an average rating of “Hold” and an average 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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