Cordasco Financial Network Lowers stake in Reynolds American (RAI)

Reynolds American (RAI) : Cordasco Financial Network reduced its stake in Reynolds American by 6.55% during the most recent quarter end. The investment management company now holds a total of 40,914 shares of Reynolds American which is valued at $2,041,609 after selling 2,870 shares in Reynolds American , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Reynolds American makes up approximately 2.28% of Cordasco Financial Network’s portfolio.

Other Hedge Funds, Including , 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.Meritage Portfolio Management reduced its stake in RAI by selling 6,123 shares or 4.68% in the most recent quarter. The Hedge Fund company now holds 124,604 shares of RAI which is valued at $6,515,543. Reynolds American makes up approx 0.71% of Meritage Portfolio Management’s portfolio.Sumitomo Life Insurance Co boosted its stake in RAI in the latest quarter, The investment management firm added 5,642 additional shares and now holds a total of 37,931 shares of Reynolds American which is valued at $1,995,929. Reynolds American makes up approx 0.27% of Sumitomo Life Insurance Co’s portfolio.Creative Planning boosted its stake in RAI in the latest quarter, The investment management firm added 18,317 additional shares and now holds a total of 164,031 shares of Reynolds American which is valued at $8,593,584. Reynolds American makes up approx 0.06% of Creative Planning’s portfolio.

Reynolds American closed down -0.12 points or -0.24% at $50.06 with 41,49,971 shares getting traded on Friday. Post opening the session at $50.25, the shares hit an intraday low of $49.96 and an intraday high of $50.55 and the price fluctuated in this range throughout the day.Shares ended Friday 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. 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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