Edgestream Partners Lowers stake in Reynolds American (RAI)

Reynolds American (RAI) : Edgestream Partners reduced its stake in Reynolds American by 40.66% during the most recent quarter end. The investment management company now holds a total of 58,105 shares of Reynolds American which is valued at $2,940,113 after selling 39,820 shares in Reynolds American , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Reynolds American makes up approximately 3.89% of Edgestream Partners’s portfolio.

Other Hedge Funds, Including , Great Lakes Advisors reduced its stake in RAI by selling 258 shares or 1.81% in the most recent quarter. The Hedge Fund company now holds 14,027 shares of RAI which is valued at $709,766. Reynolds American makes up approx 0.02% of Great Lakes Advisors’s portfolio.Credit Suisse Ag reduced its stake in RAI by selling 59,464 shares or 3.68% in the most recent quarter. The Hedge Fund company now holds 1,555,592 shares of RAI which is valued at $78,712,955. Reynolds American makes up approx 0.10% of Credit Suisse Ag’s portfolio.Boston Advisors reduced its stake in RAI by selling 86 shares or 1.51% in the most recent quarter. The Hedge Fund company now holds 5,625 shares of RAI which is valued at $280,688. Reynolds American makes up approx 0.01% of Boston Advisors’s portfolio. Duncker Streett Co Inc added RAI to its portfolio by purchasing 800 company shares during the most recent quarter which is valued at $41,832. Reynolds American makes up approx 0.01% of Duncker Streett Co Inc’s portfolio.

Reynolds American opened for trading at $50 and hit $50.049 on the upside on Monday, eventually ending the session at $50.02, with a gain of 0.30% or 0.15 points. The heightened volatility saw the trading volume jump to 29,84,158 shares. Company has a market cap of $71,396 M.

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. UBS Initiated Reynolds American on Aug 25, 2016 to “Neutral”, Price Target of the shares are set at $52.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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