Wintergreen Advisers Lowers stake in Reynolds American (RAI)

Reynolds American (RAI) : Wintergreen Advisers reduced its stake in Reynolds American by 19.91% during the most recent quarter end. The investment management company now holds a total of 1,982,420 shares of Reynolds American which is valued at $100.9 Million after selling 492,740 shares in Reynolds American , the firm said in a disclosure report filed with the SEC on May 13, 2016.Reynolds American makes up approximately 35.41% of Wintergreen Advisers’s portfolio.

Other Hedge Funds, Including , Citadel Advisors reduced its stake in RAI by selling 415,113 shares or 32.17% in the most recent quarter. The Hedge Fund company now holds 875,189 shares of RAI which is valued at $44.5 Million. Reynolds American makes up approx 0.13% of Citadel Advisors’s portfolio.Twin Capital Management Inc boosted its stake in RAI in the latest quarter, The investment management firm added 8,070 additional shares and now holds a total of 72,000 shares of Reynolds American which is valued at $3.7 Million. Reynolds American makes up approx 0.29% of Twin Capital Management Inc’s portfolio. Berkeley Capital Partners added RAI to its portfolio by purchasing 5,093 company shares during the most recent quarter which is valued at $259,234. Reynolds American makes up approx 0.19% of Berkeley Capital Partners’s portfolio.Icon Advisers Incco reduced its stake in RAI by selling 3,500 shares or 12.96% in the most recent quarter. The Hedge Fund company now holds 23,500 shares of RAI which is valued at $1.2 Million. Reynolds American makes up approx 0.08% of Icon Advisers Incco’s portfolio. Point View Wealth Management added RAI to its portfolio by purchasing 3,999 company shares during the most recent quarter which is valued at $199,390. Reynolds American makes up approx 0.13% of Point View Wealth Management’s portfolio.

Reynolds American closed down -0.32 points or -0.63% at $50.38 with 35,36,519 shares getting traded on Wednesday. Post opening the session at $50.67, the shares hit an intraday low of $50.37 and an intraday high of $50.8801 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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