Covestor Ltd Purchases 588 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Covestor Ltd grew its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 14.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,564 shares of the company’s stock after purchasing an additional 588 shares during the period. Covestor Ltd’s holdings in Reynolds Consumer Products were worth $142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of REYN. GAMMA Investing LLC lifted its stake in Reynolds Consumer Products by 510.2% in the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after acquiring an additional 801 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Reynolds Consumer Products in the second quarter worth $39,000. Abich Financial Wealth Management LLC acquired a new position in Reynolds Consumer Products during the second quarter worth $54,000. Capital Performance Advisors LLP bought a new position in Reynolds Consumer Products in the third quarter valued at $70,000. Finally, nVerses Capital LLC acquired a new stake in Reynolds Consumer Products in the 2nd quarter valued at $90,000. 26.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on REYN shares. JPMorgan Chase & Co. increased their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Royal Bank of Canada boosted their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Canaccord Genuity Group raised their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Barclays lowered their price target on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Finally, Jefferies Financial Group began coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.17.

Reynolds Consumer Products Trading Up 0.4 %

Shares of REYN stock opened at $27.55 on Tuesday. The company has a market capitalization of $5.79 billion, a PE ratio of 15.74 and a beta of 0.50. The firm has a 50 day moving average price of $30.16 and a two-hundred day moving average price of $29.17. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. Reynolds Consumer Products Inc. has a 12-month low of $25.80 and a 12-month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The firm had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. During the same period in the prior year, the business posted $0.37 EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, analysts predict that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.23 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.34%. Reynolds Consumer Products’s payout ratio is 52.57%.

Insider Activity at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 7,207 shares of the stock in a transaction on Friday, November 1st. The shares were purchased at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the purchase, the director now directly owns 7,207 shares in the company, valued at approximately $196,390.75. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Reynolds Consumer Products Company Profile

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 aluminum foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, butcher paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and EZ Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.