Fukoku Mutual Life Insurance Co Lowers stake in Reynolds American (RAI)

Reynolds American (RAI) : Fukoku Mutual Life Insurance Co reduced its stake in Reynolds American by 26.22% during the most recent quarter end. The investment management company now holds a total of 277,400 shares of Reynolds American which is valued at $14.1 Million after selling 98,600 shares in Reynolds American , the firm said in a disclosure report filed with the SEC on May 11, 2016.Reynolds American makes up approximately 3.05% of Fukoku Mutual Life Insurance Co’s portfolio.

Other Hedge Funds, Including , Artemis Investment Management Llp boosted its stake in RAI in the latest quarter, The investment management firm added 105,314 additional shares and now holds a total of 1,022,060 shares of Reynolds American which is valued at $52 Million. Reynolds American makes up approx 1.31% of Artemis Investment Management Llp’s portfolio.Cibc World Markets boosted its stake in RAI in the latest quarter, The investment management firm added 2,452 additional shares and now holds a total of 144,520 shares of Reynolds American which is valued at $7.2 Million. Reynolds American makes up approx 0.03% of Cibc World Markets’s portfolio. Shamrock Asset Management added RAI to its portfolio by purchasing 11,509 company shares during the most recent quarter which is valued at $573,839. Reynolds American makes up approx 0.34% of Shamrock Asset Management’s portfolio. Malaga Cove Capital sold out all of its stake in RAI during the most recent quarter. The investment firm sold 6,266 shares of RAI which is valued $310,794.

Reynolds American opened for trading at $50.82 and hit $51.29 on the upside on Monday, eventually ending the session at $51.2, with a gain of 0.59% or 0.3 points. The heightened volatility saw the trading volume jump to 23,29,668 shares. Company has a market cap of $73,080 M.

On the company’s financial health, Reynolds American reported $0.50 EPS for the quarter, based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus estimate of $0.50. The company had revenue of $2917.00 million for the quarter, compared to analysts expectations of $2936.11 million. The company’s revenue was up 41.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

Investors should note that on May 5, 2016, Reynolds American announced a cash dividend of $0.4200. The company’s management has announced Jun 8, 2016 as the ex-dividend date and fixed the record date on Jun 10, 2016. The payable date has been fixed on Jul 1, 2016.

Many Wall Street Analysts have commented on Reynolds American. Company shares were Reiterated by RBC Capital Mkts on Mar 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 57 from a previous price target of $53 .

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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