Reynolds American, Inc. (RAI) Position Raised by Toronto Dominion Bank

Toronto Dominion Bank boosted its stake in Reynolds American, Inc. (NYSE:RAI) by 74.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,586,222 shares of the company’s stock after purchasing an additional 1,957,170 shares during the quarter. Reynolds American comprises about 1.0% of Toronto Dominion Bank’s investment portfolio, making the stock its 14th largest holding. Toronto Dominion Bank’s holdings in Reynolds American were worth $298,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Reynolds American by 2.9% in the second quarter. Vanguard Group Inc. now owns 59,929,495 shares of the company’s stock valued at $3,897,814,000 after acquiring an additional 1,706,536 shares during the period. BlackRock Inc. grew its stake in Reynolds American by 10.1% in the second quarter. BlackRock Inc. now owns 50,862,470 shares of the company’s stock valued at $3,308,096,000 after acquiring an additional 4,658,748 shares during the period. State Street Corp grew its stake in Reynolds American by 0.3% in the second quarter. State Street Corp now owns 33,252,559 shares of the company’s stock valued at $2,163,145,000 after acquiring an additional 109,293 shares during the period. FMR LLC grew its stake in Reynolds American by 16.0% in the second quarter. FMR LLC now owns 14,053,162 shares of the company’s stock valued at $914,017,000 after acquiring an additional 1,938,819 shares during the period. Finally, American International Group Inc. grew its stake in Reynolds American by 1.2% in the first quarter. American International Group Inc. now owns 9,262,283 shares of the company’s stock valued at $583,709,000 after acquiring an additional 112,610 shares during the period. Institutional investors and hedge funds own 46.34% of the company’s stock.

A number of research analysts have issued reports on the company. Jefferies Group LLC set a $60.00 target price on Reynolds American and gave the company a “hold” rating in a research note on Friday, August 25th. 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. BidaskClub cut Reynolds American from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Vetr raised Reynolds American from a “buy” rating to a “strong-buy” rating and set a $73.00 target price for the company in a research note on Monday, June 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $59.82.

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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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