Cypress Capital Group lowered its position in shares of Reynolds American, Inc. (NYSE:RAI) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,553 shares of the company’s stock after selling 1,250 shares during the quarter. Reynolds American accounts for approximately 1.2% of Cypress Capital Group’s investment portfolio, making the stock its 23rd largest position. Cypress Capital Group’s holdings in Reynolds American were worth $5,500,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in Reynolds American by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 51,300 shares of the company’s stock valued at $3,337,000 after buying an additional 500 shares in the last quarter. BlackRock Inc. boosted its stake in Reynolds American by 10.1% during the second quarter. BlackRock Inc. now owns 50,862,470 shares of the company’s stock valued at $3,308,096,000 after buying an additional 4,658,748 shares in the last quarter. Motco boosted its stake in Reynolds American by 549.7% during the second quarter. Motco now owns 1,962 shares of the company’s stock valued at $128,000 after buying an additional 1,660 shares in the last quarter. Pentwater Capital Management LP bought a new position in Reynolds American during the first quarter valued at about $321,455,000. Finally, Waldron LP boosted its stake in Reynolds American by 1.4% during 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 in the last quarter. 46.34% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on RAI shares. Cowen and Company reaffirmed a “hold” rating and set a $65.00 target price on shares of Reynolds American in a report on Tuesday, July 11th. Jefferies Group LLC set a $60.00 target price on Reynolds American and gave the company a “hold” rating in a report on Monday, July 17th. Finally, BidaskClub downgraded Reynolds American from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. One equities research 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 company. The stock presently has a consensus rating of “Hold” and an average target price of $59.82.
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Reynolds American Profile
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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