Gateway Advisory buys $969,283 stake in Reynolds American (RAI)

Reynolds American (RAI) : Gateway Advisory scooped up 8,874 additional shares in Reynolds American during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 19,641 shares of Reynolds American which is valued at $969,283.Reynolds American makes up approximately 0.38% of Gateway Advisory’s portfolio.

Other Hedge Funds, Including , Utah Retirement Systems boosted its stake in RAI in the latest quarter, The investment management firm added 2,900 additional shares and now holds a total of 151,150 shares of Reynolds American which is valued at $7,459,253. Reynolds American makes up approx 0.19% of Utah Retirement Systems’s portfolio.Morgan Dempsey Capital Management boosted its stake in RAI in the latest quarter, The investment management firm added 14,503 additional shares and now holds a total of 64,436 shares of Reynolds American which is valued at $3,225,666. Reynolds American makes up approx 1.06% of Morgan Dempsey Capital Management’s portfolio. Cribstone Capital Management added RAI to its portfolio by purchasing 928 company shares during the most recent quarter which is valued at $48,590. Reynolds American makes up approx 0.03% of Cribstone Capital Management’s portfolio. Arcadia Investment Management Corpmi added RAI to its portfolio by purchasing 50 company shares during the most recent quarter which is valued at $2,631.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.

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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