Fukoku Mutual Life Insurance Co buys $13,750,728 stake in Reynolds American (RAI)

Reynolds American (RAI) : Fukoku Mutual Life Insurance Co scooped up 2,200 additional shares in Reynolds American during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 279,600 shares of Reynolds American which is valued at $13,750,728.Reynolds American makes up approximately 2.66% of Fukoku Mutual Life Insurance Co’s portfolio.

Other Hedge Funds, Including , Thompson Davis reduced its stake in RAI by selling 188 shares or 5.57% in the most recent quarter. The Hedge Fund company now holds 3,190 shares of RAI which is valued at $156,884. Reynolds American makes up approx 0.24% of Thompson Davis’s portfolio.Geneva Advisors boosted its stake in RAI in the latest quarter, The investment management firm added 389,457 additional shares and now holds a total of 397,230 shares of Reynolds American which is valued at $19,901,223. Reynolds American makes up approx 0.38% of Geneva Advisors’s portfolio.Aviance Capital Management boosted its stake in RAI in the latest quarter, The investment management firm added 127,031 additional shares and now holds a total of 549,100 shares of Reynolds American which is valued at $27,400,090. Reynolds American makes up approx 0.82% of Aviance Capital Management’s portfolio.Fisher Asset Management boosted its stake in RAI in the latest quarter, The investment management firm added 546 additional shares and now holds a total of 9,783 shares of Reynolds American which is valued at $512,531.

Reynolds American opened for trading at $50.66 and hit $51.145 on the upside on Wednesday, eventually ending the session at $51.06, with a gain of 0.81% or 0.41 points. The heightened volatility saw the trading volume jump to 50,70,288 shares. Company has a market cap of $72,880 M.

On the company’s financial health, Reynolds American reported $0.58 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus of $0.61. The company had revenue of $3195.00 million for the quarter, compared to analysts expectations of $3259.13 million. The company’s revenue was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS.

Many Wall Street Analysts have commented on Reynolds American. Reynolds American was Upgraded by CLSA to ” Outperform” on Aug 8, 2016. Berenberg Initiated Reynolds American on Jun 14, 2016 to “Hold”, Price Target of the shares are set at $54.

Reynolds American Inc. (RAI) is a holding company. The Company operates through three segments: RJR Tobacco American Snuff and Santa Fe. The RJR Tobacco segment consists principally of the primary operations of R. J. Reynolds Tobacco Company. The American Snuff segment consists of the primary operations of American Snuff Co. The Santa Fe segment consists of the domestic operations of Santa Fe Natural Tobacco Company Inc. (SFNTC). The Company’s wholly owned subsidiaries include R. J. Reynolds Tobacco Company American Snuff Company LLC (American Snuff Co.) Lorillard Inc. Santa Fe Natural Tobacco Company Inc. (SFNTC) R. J. Reynolds Vapor Company (RJR Vapor) Niconovum USA Inc. and Niconovum AB.

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