Arrowstreet Capital Limited Partnership buys $235,605,744 stake in Reynolds American (RAI)

Reynolds American (RAI) : Arrowstreet Capital Limited Partnership scooped up 2,674,368 additional shares in Reynolds American during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 4,656,240 shares of Reynolds American which is valued at $235,605,744.Reynolds American makes up approximately 0.93% of Arrowstreet Capital Limited Partnership’s portfolio.

Other Hedge Funds, Including , Cwa Asset Management Group added RAI to its portfolio by purchasing 4,356 company shares during the most recent quarter which is valued at $220,414. Reynolds American makes up approx 0.13% of Cwa Asset Management Group’s portfolio.Nomura Asset Management Co Ltd boosted its stake in RAI in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 108,019 shares of Reynolds American which is valued at $5,465,761. Reynolds American makes up approx 0.10% of Nomura Asset Management Co Ltd’s portfolio.Engineers Gate Manager Lp boosted its stake in RAI in the latest quarter, The investment management firm added 12,626 additional shares and now holds a total of 99,264 shares of Reynolds American which is valued at $5,022,758. Reynolds American makes up approx 0.34% of Engineers Gate Manager Lp’s portfolio.Ameritas Investment Partners boosted its stake in RAI in the latest quarter, The investment management firm added 720 additional shares and now holds a total of 19,761 shares of Reynolds American which is valued at $999,907. Reynolds American makes up approx 0.06% of Ameritas Investment Partners’s portfolio.Cable Hill Partners reduced its stake in RAI by selling 1,389 shares or 79.28% in the most recent quarter. The Hedge Fund company now holds 363 shares of RAI which is valued at $17,758. Reynolds American makes up approx 0.01% of Cable Hill Partners’s portfolio.

Reynolds American opened for trading at $49.5 and hit $49.76 on the upside on Thursday, eventually ending the session at $49.75, with a gain of 0.36% or 0.18 points. The heightened volatility saw the trading volume jump to 25,52,245 shares. Company has a market cap of $71,010 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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