Raymond James Associates Lowers stake in Reynolds American (RAI)

Reynolds American (RAI) : Raymond James Associates reduced its stake in Reynolds American by 8.51% during the most recent quarter end. The investment management company now holds a total of 2,525,846 shares of Reynolds American which is valued at $133,996,130 after selling 234,911 shares in Reynolds American , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Reynolds American makes up approximately 0.37% of Raymond James Associates’s portfolio.

Other Hedge Funds, Including , Fukoku Mutual Life Insurance Co boosted its stake in RAI in the latest quarter, The investment management firm added 2,300 additional shares and now holds a total of 281,900 shares of Reynolds American which is valued at $14,954,795. Reynolds American makes up approx 2.78% of Fukoku Mutual Life Insurance Co’s portfolio.Argent Trust Co reduced its stake in RAI by selling 1,454 shares or 11.93% in the most recent quarter. The Hedge Fund company now holds 10,730 shares of RAI which is valued at $585,107. Reynolds American makes up approx 0.25% of Argent Trust Co’s portfolio.Kayne Anderson Rudnick Investment Management boosted its stake in RAI in the latest quarter, The investment management firm added 209,367 additional shares and now holds a total of 290,307 shares of Reynolds American which is valued at $15,830,441. Reynolds American makes up approx 0.20% of Kayne Anderson Rudnick Investment Management’s portfolio. Point View Wealth Management sold out all of its stake in RAI during the most recent quarter. The investment firm sold 3,766 shares of RAI which is valued $205,096.

Reynolds American opened for trading at $53.78 and hit $54.06 on the upside on Monday, eventually ending the session at $53.84, with a gain of 0.17% or 0.09 points. The heightened volatility saw the trading volume jump to 58,69,860 shares. Company has a market cap of $76,764 M.

On the company’s financial health, Reynolds American reported $0.61 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Oct 19, 2016. Analyst had a consensus of $0.64. The company had revenue of $3205.00 million for the quarter, compared to analysts expectations of $3307.98 million. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Many Wall Street Analysts have commented on Reynolds American. Reynolds American was Downgraded by CLSA to ” Underperform” on Oct 24, 2016. Reynolds American was Upgraded by Berenberg to ” Buy” on Oct 21, 2016. Jefferies Initiated Reynolds American on Sep 21, 2016 to “Buy”, Price Target of the shares are set at $61.

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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