Cordasco Financial Network Lowers stake in Reynolds American (RAI)

Reynolds American (RAI) : Cordasco Financial Network reduced its stake in Reynolds American by 14.01% during the most recent quarter end. The investment management company now holds a total of 43,784 shares of Reynolds American which is valued at $2,171,686 after selling 7,131 shares in Reynolds American , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Reynolds American makes up approximately 2.41% of Cordasco Financial Network’s portfolio.

Reynolds American opened for trading at $49.79 and hit $50.36 on the upside on Monday, eventually ending the session at $49.63, with a gain of 0.06% or 0.03 points. The heightened volatility saw the trading volume jump to 38,23,588 shares. Company has a market cap of $70,839 M.

Other Hedge Funds, Including , Wespac Advisors reduced its stake in RAI by selling 15,635 shares or 54.01% in the most recent quarter. The Hedge Fund company now holds 13,316 shares of RAI which is valued at $660,474. Reynolds American makes up approx 0.82% of Wespac Advisors’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in RAI in the latest quarter, The investment management firm added 57,430 additional shares and now holds a total of 972,656 shares of Reynolds American which is valued at $46,522,136. Reynolds American makes up approx 0.19% of Bnp Paribas Arbitrage Sa’s portfolio.Jolley Asset Management boosted its stake in RAI in the latest quarter, The investment management firm added 240 additional shares and now holds a total of 520 shares of Reynolds American which is valued at $24,872. Reynolds American makes up approx 0.02% of Jolley Asset Management’s portfolio.Exencial Wealth Advisors boosted its stake in RAI in the latest quarter, The investment management firm added 780 additional shares and now holds a total of 24,033 shares of Reynolds American which is valued at $1,149,498. Reynolds American makes up approx 0.53% of Exencial Wealth Advisors’s portfolio. Tnb Financial added RAI to its portfolio by purchasing 6,572 company shares during the most recent quarter which is valued at $320,319. Reynolds American makes up approx 0.10% of Tnb Financial’s portfolio.

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.

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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