Evercore Trust Company N.a. Lowers stake in Reynolds American (RAI)

Reynolds American (RAI) : Evercore Trust Company N.a. reduced its stake in Reynolds American by 1.73% during the most recent quarter end. The investment management company now holds a total of 8,859,827 shares of Reynolds American which is valued at $448,307,246 after selling 156,336 shares in Reynolds American , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Reynolds American makes up approximately 1.41% of Evercore Trust Company N.a.’s portfolio.

Other Hedge Funds, Including , Cetera Advisors reduced its stake in RAI by selling 477 shares or 5.69% in the most recent quarter. The Hedge Fund company now holds 7,900 shares of RAI which is valued at $399,740. Reynolds American makes up approx 0.03% of Cetera Advisors’s portfolio.Sheaff Brock Investment Advisors boosted its stake in RAI in the latest quarter, The investment management firm added 215 additional shares and now holds a total of 17,823 shares of Reynolds American which is valued at $871,901. Reynolds American makes up approx 0.11% of Sheaff Brock Investment Advisors’s portfolio.Cable Hill Partners reduced its stake in RAI by selling 1,389 shares or 79.28% in the most recent quarter. The Hedge Fund company now holds 363 shares of RAI which is valued at $17,758. Reynolds American makes up approx 0.01% of Cable Hill Partners’s portfolio.Dynamic Advisors Solutions boosted its stake in RAI in the latest quarter, The investment management firm added 44 additional shares and now holds a total of 6,886 shares of Reynolds American which is valued at $360,069. Reynolds American makes up approx 0.14% of Dynamic Advisors Solutions’s portfolio.

Reynolds American closed down -0.21 points or -0.41% at $50.66 with 53,75,770 shares getting traded on Friday. Post opening the session at $50.83, the shares hit an intraday low of $50.437 and an intraday high of $50.85 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. 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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