Commonwealth Financial Services buys $509,409 stake in Reynolds American (RAI)

Reynolds American (RAI) : Commonwealth Financial Services scooped up 649 additional shares in Reynolds American during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 21, 2016. The investment management firm now holds a total of 9,742 shares of Reynolds American which is valued at $509,409.Reynolds American makes up approximately 0.59% of Commonwealth Financial Services’s portfolio.

Other Hedge Funds, Including , Capital Investment Advisors reduced its stake in RAI by selling 190 shares or 0.63% in the most recent quarter. The Hedge Fund company now holds 30,082 shares of RAI which is valued at $1,572,988. Reynolds American makes up approx 0.14% of Capital Investment Advisors’s portfolio.Mai Capital Management reduced its stake in RAI by selling 462 shares or 8.06% in the most recent quarter. The Hedge Fund company now holds 5,268 shares of RAI which is valued at $277,202. Reynolds American makes up approx 0.02% of Mai Capital Management’s portfolio.Next Financial Group Inc reduced its stake in RAI by selling 429 shares or 2.88% in the most recent quarter. The Hedge Fund company now holds 14,472 shares of RAI which is valued at $768,897. Reynolds American makes up approx 0.24% of Next Financial Group Inc’s portfolio.

Reynolds American opened for trading at $49.84 and hit $50.31 on the upside on Thursday, eventually ending the session at $50.18, with a gain of 0.56% or 0.28 points. The heightened volatility saw the trading volume jump to 47,64,302 shares. Company has a market cap of $71,624 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. 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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