Churchill Management Corp buys $24,328,279 stake in Reynolds American (RAI)

Reynolds American (RAI) : Churchill Management Corp scooped up 8,215 additional shares in Reynolds American during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 13, 2016. The investment management firm now holds a total of 499,144 shares of Reynolds American which is valued at $24,328,279.Reynolds American makes up approximately 1.70% of Churchill Management Corp’s portfolio.

Reynolds American opened for trading at $48.77 and hit $49.2165 on the upside on Monday, eventually ending the session at $49.1, with a gain of 0.74% or 0.36 points. The heightened volatility saw the trading volume jump to 35,44,811 shares. Company has a market cap of $70,082 M.

Other Hedge Funds, Including , 1st Global Advisors added RAI to its portfolio by purchasing 16,552 company shares during the most recent quarter which is valued at $806,744. Reynolds American makes up approx 0.11% of 1st Global Advisors’s portfolio.Grassi Investment Management reduced its stake in RAI by selling 28,147 shares or 14.65% in the most recent quarter. The Hedge Fund company now holds 163,976 shares of RAI which is valued at $7,992,190. Reynolds American makes up approx 1.56% of Grassi Investment Management’s portfolio.British Columbia Investment Management Corp boosted its stake in RAI in the latest quarter, The investment management firm added 5,530 additional shares and now holds a total of 444,645 shares of Reynolds American which is valued at $22,499,037. Reynolds American makes up approx 0.21% of British Columbia Investment Management Corp’s portfolio.

On the company’s financial health, Reynolds American reported $0.48 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 11, 2016. Analyst had a consensus of $0.50. The company had revenue of $3054.00 million for the quarter, compared to analysts expectations of $3043.47 million. The company’s revenue was up 43.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS.

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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