Cipher Capital Lp buys $6.7 Million stake in Reynolds American (RAI)

Reynolds American (RAI) : Cipher Capital Lp scooped up 98,385 additional shares in Reynolds American during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 131,951 shares of Reynolds American which is valued at $6.7 Million.Reynolds American makes up approximately 0.64% of Cipher Capital Lp’s portfolio.

Other Hedge Funds, Including , Meag Munich Ergo Kapitalanlagegesellschaft Mbh reduced its stake in RAI by selling 440,156 shares or 87.74% in the most recent quarter. The Hedge Fund company now holds 61,527 shares of RAI which is valued at $3.1 Million. Reynolds American makes up approx 0.16% of Meag Munich Ergo Kapitalanlagegesellschaft Mbh’s portfolio.Bluecrest Capital Management Ltd reduced its stake in RAI by selling 174,243 shares or 97.2% in the most recent quarter. The Hedge Fund company now holds 5,016 shares of RAI which is valued at $250,098. Reynolds American makes up approx 0.02% of Bluecrest Capital Management Ltd’s portfolio. First Midwest Bank Trust Division added RAI to its portfolio by purchasing 11,068 company shares during the most recent quarter which is valued at $548,973. Reynolds American makes up approx 0.07% of First Midwest Bank Trust Division’s portfolio.Glenmede Trust Co Na reduced its stake in RAI by selling 447,800 shares or 35.43% in the most recent quarter. The Hedge Fund company now holds 816,015 shares of RAI which is valued at $40.5 Million. Reynolds American makes up approx 0.26% of Glenmede Trust Co Na’s portfolio.

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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