Canada Pension Plan Investment Board increased its position in Reynolds American Inc (NYSE:RAI) by 44.7% during the second quarter, Holdings Channel reports. The fund owned 4,998,397 shares of the company’s stock after buying an additional 1,544,800 shares during the period. Canada Pension Plan Investment Board’s holdings in Reynolds American were worth $325,096,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of RAI. Shine Investment Advisory Services Inc. bought a new position in shares of Reynolds American during the second quarter worth approximately $119,000. Quadrant Capital Group LLC increased its position in shares of Reynolds American by 7.0% in the first quarter. Quadrant Capital Group LLC now owns 2,999 shares of the company’s stock worth $182,000 after buying an additional 195 shares during the last quarter. Baystate Wealth Management LLC increased its position in shares of Reynolds American by 1.7% in the first quarter. Baystate Wealth Management LLC now owns 3,075 shares of the company’s stock worth $197,000 after buying an additional 50 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Reynolds American by 21.2% in the first quarter. Parallel Advisors LLC now owns 3,065 shares of the company’s stock worth $198,000 after buying an additional 537 shares during the last quarter. Finally, Guardian Life Insurance Co. of America increased its position in shares of Reynolds American by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,190 shares of the company’s stock worth $201,000 after buying an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 46.34% of the company’s stock.

Reynolds American Inc (NYSE:RAI) opened at 65.40 on Thursday. Reynolds American Inc has a 1-year low of $43.38 and a 1-year high of $67.81. The stock has a 50 day moving average price of $65.29 and a 200 day moving average price of $63.79.

TRADEMARK VIOLATION NOTICE: “Canada Pension Plan Investment Board Buys 1,544,800 Shares of Reynolds American Inc (NYSE:RAI)” was first reported by Watch List News and is the property of of Watch List News. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.watchlistnews.com/canada-pension-plan-investment-board-buys-1544800-shares-of-reynolds-american-inc-nyserai/1469643.html.

A number of brokerages recently commented on RAI. Jefferies Group LLC restated a “hold” rating and set a $60.00 price objective on shares of Reynolds American in a research note on Wednesday, April 26th. BidaskClub downgraded Reynolds American from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Vetr upgraded Reynolds American from a “buy” rating to a “strong-buy” rating and set a $73.00 price objective for the company in a research note on Monday, June 12th. Piper Jaffray Companies began coverage on Reynolds American in a research note on Thursday, May 25th. They set a “neutral” rating and a $67.00 price objective for the company. Finally, Zacks Investment Research downgraded Reynolds American from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Two equities 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. The company currently has an average rating of “Hold” and a consensus price target 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.

Want to see what other hedge funds are holding RAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reynolds American Inc (NYSE:RAI).

Institutional Ownership by Quarter for Reynolds American (NYSE:RAI)

Receive News & Ratings for Reynolds American Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reynolds American Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.