Wharton Business Group Lowers stake in Reynolds American (RAI)

Reynolds American (RAI) : Wharton Business Group reduced its stake in Reynolds American by 1.93% during the most recent quarter end. The investment management company now holds a total of 6,658 shares of Reynolds American which is valued at $333,566 after selling 131 shares in Reynolds American , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Reynolds American makes up approximately 0.04% of Wharton Business Group’s portfolio.

Other Hedge Funds, Including , Blair William Coil boosted its stake in RAI in the latest quarter, The investment management firm added 3,007 additional shares and now holds a total of 18,402 shares of Reynolds American which is valued at $921,940. Reynolds American makes up approx 0.01% of Blair William Coil’s portfolio.Dana Investment Advisors reduced its stake in RAI by selling 379,253 shares or 77.48% in the most recent quarter. The Hedge Fund company now holds 110,212 shares of RAI which is valued at $5,391,571. Reynolds American makes up approx 0.23% of Dana Investment Advisors’s portfolio.Wealth Enhancement Advisory Services boosted its stake in RAI in the latest quarter, The investment management firm added 4,224 additional shares and now holds a total of 37,048 shares of Reynolds American which is valued at $1,854,623. Reynolds American makes up approx 0.33% of Wealth Enhancement Advisory Services’s portfolio.Conning boosted its stake in RAI in the latest quarter, The investment management firm added 80 additional shares and now holds a total of 20,304 shares of Reynolds American which is valued at $1,013,170. Reynolds American makes up approx 0.04% of Conning’s portfolio.Telemus Capital boosted its stake in RAI in the latest quarter, The investment management firm added 6,863 additional shares and now holds a total of 25,038 shares of Reynolds American which is valued at $1,310,990. Reynolds American makes up approx 0.15% of Telemus Capital’s portfolio.

Reynolds American closed down -0.05 points or -0.10% at $50.55 with 50,17,392 shares getting traded on Monday. Post opening the session at $50.51, the shares hit an intraday low of $50.19 and an intraday high of $50.59 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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