Wealthfront Inc. grew its stake in Reynolds American, Inc. (NYSE:RAI) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,217 shares of the company’s stock after purchasing an additional 1,040 shares during the period. Wealthfront Inc.’s holdings in Reynolds American were worth $1,835,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Glassman Wealth Services lifted its stake in shares of Reynolds American by 0.8% in the 2nd quarter. Glassman Wealth Services now owns 1,568 shares of the company’s stock valued at $102,000 after purchasing an additional 12 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Reynolds American by 2.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,569 shares of the company’s stock valued at $102,000 after purchasing an additional 39 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Reynolds American in the 2nd quarter valued at approximately $103,000. Shine Investment Advisory Services Inc. bought a new stake in shares of Reynolds American in the 2nd quarter valued at approximately $119,000. Finally, Motco lifted its stake in shares of Reynolds American by 549.7% in the 2nd quarter. Motco now owns 1,962 shares of the company’s stock valued at $128,000 after purchasing an additional 1,660 shares during the last quarter. 46.34% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on RAI shares. BidaskClub lowered Reynolds American from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Jefferies Group LLC set a $60.00 price objective on Reynolds American and gave the company a “hold” rating in a research note on Friday, August 25th. Cowen and Company reaffirmed a “hold” rating and issued a $65.00 price objective on shares of Reynolds American in a research note on Tuesday, July 11th. Vetr raised 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. Finally, Piper Jaffray Companies started coverage on Reynolds American in a research note on Thursday, May 25th. They issued a “neutral” rating and a $67.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Reynolds American currently has an average rating of “Hold” and a consensus target price of $59.82.

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Shares of Reynolds American, Inc. (RAI) traded down 2.23% during midday trading on Thursday, hitting $65.40. The company had a trading volume of 159,452,032 shares. Reynolds American, Inc. has a 12 month low of $43.38 and a 12 month high of $67.81. The company has a 50-day moving average of $65.25 and a 200-day moving average of $64.00.

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

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