Insider Selling: & Williamson Holdings Brown Unloads 128,365 Shares of Reynolds American Stock (RAI)
Reynolds American (NYSE:RAI) major shareholder & Williamson Holdings Brown sold 128,365 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $49.12, for a total value of $6,305,288.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Reynolds American from $61.00 to $65.34 in a research note to investors on Thursday, October 3rd. They now have an “overweight” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Reynolds American in a research note to investors on Friday, September 13th. They now have a $50.00 price target on the stock. Finally, analysts at Credit Agricole raised their price target on shares of Reynolds American from $43.00 to $48.00 in a research note to investors on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Reynolds American currently has an average rating of “Buy” and a consensus price target of $50.89.
Shares of Reynolds American (NYSE:RAI) traded up 0.22% on Tuesday, hitting $49.3875. 346,713 shares of the company’s stock traded hands. Reynolds American has a one year low of $39.70 and a one year high of $52.93. The stock has a 50-day moving average of $48.64 and a 200-day moving average of $48.3. The company has a market cap of $26.869 billion and a P/E ratio of 17.92.
Reynolds American (NYSE:RAI) last announced its earnings results on Wednesday, July 24th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis.
Reynolds American Inc (NYSE:RAI) is a holding company.
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