Grassi Investment Management Lowers stake in Reynolds American (RAI)

Reynolds American (RAI) : Grassi Investment Management reduced its stake in Reynolds American by 2.03% during the most recent quarter end. The investment management company now holds a total of 154,182 shares of Reynolds American which is valued at $7,152,503 after selling 3,197 shares in Reynolds American , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Reynolds American makes up approximately 1.38% of Grassi Investment Management’s portfolio.

Other Hedge Funds, Including , Prospera Financial Services Inc reduced its stake in RAI by selling 1,463 shares or 24.69% in the most recent quarter. The Hedge Fund company now holds 4,462 shares of RAI which is valued at $206,992. Reynolds American makes up approx 0.04% of Prospera Financial Services Inc’s portfolio.Catawba Capital Management Va reduced its stake in RAI by selling 228 shares or 4.58% in the most recent quarter. The Hedge Fund company now holds 4,754 shares of RAI which is valued at $221,727. Reynolds American makes up approx 0.05% of Catawba Capital Management Va’s portfolio. Simplex Trading added RAI to its portfolio by purchasing 3,328 company shares during the most recent quarter which is valued at $155,218. Reynolds American makes up approx 0.02% of Simplex Trading’s portfolio.Independence Advisors boosted its stake in RAI in the latest quarter, The investment management firm added 1,250 additional shares and now holds a total of 5,314 shares of Reynolds American which is valued at $247,845. Reynolds American makes up approx 0.12% of Independence Advisors’s portfolio.Franklin Street Advisors Inc Nc boosted its stake in RAI in the latest quarter, The investment management firm added 11,810 additional shares and now holds a total of 110,530 shares of Reynolds American which is valued at $5,117,539. Reynolds American makes up approx 0.94% of Franklin Street Advisors Inc Nc’s portfolio.

Reynolds American closed down -0.28 points or -0.60% at $46.39 with 43,57,631 shares getting traded on Tuesday. Post opening the session at $46.73, the shares hit an intraday low of $46.27 and an intraday high of $46.95 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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. Jefferies Initiated Reynolds American on Sep 21, 2016 to “Buy”, Price Target of the shares are set at $61.Citigroup Initiated Reynolds American on Sep 13, 2016 to “Buy”, Price Target of the shares are set at $57.Reynolds American was Downgraded by Goldman to ” Neutral” on Sep 12, 2016.

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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