Rhumbline Advisers grew its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 5.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,362 shares of the company’s stock after acquiring an additional 2,390 shares during the quarter. Rhumbline Advisers’ holdings in Reynolds Consumer Products were worth $1,528,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Factorial Partners LLC increased its position in shares of Reynolds Consumer Products by 12,388.4% during the 1st quarter. Factorial Partners LLC now owns 1,161,420 shares of the company’s stock worth $39,000,000 after purchasing an additional 1,152,120 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Reynolds Consumer Products during the 1st quarter worth about $23,761,000. Royce & Associates LP increased its position in shares of Reynolds Consumer Products by 302.2% during the 1st quarter. Royce & Associates LP now owns 617,630 shares of the company’s stock worth $18,393,000 after purchasing an additional 464,068 shares during the last quarter. Eagle Ridge Investment Management acquired a new stake in shares of Reynolds Consumer Products during the 2nd quarter worth about $10,176,000. Finally, KLCM Advisors Inc. acquired a new stake in shares of Reynolds Consumer Products during the 2nd quarter worth about $6,694,000. 26.69% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. Citigroup cut their price objective on Reynolds Consumer Products from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, August 3rd. Zacks Investment Research cut Reynolds Consumer Products from a “hold” rating to a “sell” rating in a report on Saturday, July 31st. Credit Suisse Group lowered their target price on Reynolds Consumer Products from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, August 3rd. Royal Bank of Canada lowered their target price on Reynolds Consumer Products from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Tuesday, August 3rd. Finally, UBS Group started coverage on Reynolds Consumer Products in a report on Wednesday, June 23rd. They set a “neutral” rating and a $32.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $33.63.
Shares of REYN opened at $27.83 on Friday. The stock has a 50-day simple moving average of $28.49 and a 200-day simple moving average of $29.59. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.93 and a current ratio of 2.21. The stock has a market capitalization of $5.84 billion, a PE ratio of 15.46 and a beta of 0.36. Reynolds Consumer Products Inc. has a 1 year low of $26.50 and a 1 year high of $32.19.
Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Sunday, August 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $847.00 million during the quarter, compared to analysts’ expectations of $893.53 million. Reynolds Consumer Products had a return on equity of 24.36% and a net margin of 11.34%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. Analysts predict that Reynolds Consumer Products Inc. will post 1.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Stockholders of record on Tuesday, August 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, August 16th. Reynolds Consumer Products’s payout ratio is presently 46.70%.
About Reynolds Consumer Products
Reynolds Consumer Products Inc produces and sells products in cooking, waste and storage, and tableware product categories in the United States and internationally. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produces foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and E-Z Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.
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