New Jersey Better Educational Savings Trust buys $740,250 stake in Reynolds American (RAI)

Reynolds American (RAI) : New Jersey Better Educational Savings Trust scooped up 3,000 additional shares in Reynolds American during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 15,000 shares of Reynolds American which is valued at $740,250.Reynolds American makes up approximately 0.47% of New Jersey Better Educational Savings Trust’s portfolio.

Other Hedge Funds, Including , Nippon Life Insurance Co reduced its stake in RAI by selling 8,633 shares or 10.23% in the most recent quarter. The Hedge Fund company now holds 75,727 shares of RAI which is valued at $3,737,127. Reynolds American makes up approx 0.09% of Nippon Life Insurance Co’s portfolio.Courier Capital Corp reduced its stake in RAI by selling 312 shares or 3.2% in the most recent quarter. The Hedge Fund company now holds 9,452 shares of RAI which is valued at $466,456. Reynolds American makes up approx 0.09% of Courier Capital Corp’s portfolio. Douglas Lane Associates sold out all of its stake in RAI during the most recent quarter. The investment firm sold 8,394 shares of RAI which is valued $418,861.Rehmann Capital Advisory Group reduced its stake in RAI by selling 325 shares or 4.23% in the most recent quarter. The Hedge Fund company now holds 7,350 shares of RAI which is valued at $366,765. Reynolds American makes up approx 0.07% of Rehmann Capital Advisory Group’s portfolio.

Reynolds American opened for trading at $49.39 and hit $49.51 on the upside on Monday, eventually ending the session at $49.18, with a gain of 0.53% or 0.26 points. The heightened volatility saw the trading volume jump to 35,40,707 shares. Company has a market cap of $70,197 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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