SG Americas Securities LLC Invests $695,000 in Reynolds Consumer Products Inc. (NASDAQ:REYN)

SG Americas Securities LLC bought a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 24,830 shares of the company’s stock, valued at approximately $695,000.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Reynolds Consumer Products by 510.2% in the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after purchasing an additional 801 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Reynolds Consumer Products in the 1st quarter valued at about $35,000. Versant Capital Management Inc bought a new stake in Reynolds Consumer Products in the 2nd quarter valued at about $39,000. Quadrant Capital Group LLC raised its stake in Reynolds Consumer Products by 97.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock worth $52,000 after buying an additional 960 shares during the period. Finally, Principal Securities Inc. bought a new position in Reynolds Consumer Products in the fourth quarter worth approximately $61,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

Analysts Set New Price Targets

REYN has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Barclays upped their price objective on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Royal Bank of Canada lifted their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group upped their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.00.

Reynolds Consumer Products Stock Performance

Shares of REYN stock opened at $30.15 on Monday. The firm has a 50-day moving average of $28.14 and a 200-day moving average of $28.45. The company has a market cap of $6.34 billion, a P/E ratio of 19.20 and a beta of 0.47. Reynolds Consumer Products Inc. has a one year low of $24.80 and a one year high of $31.01. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $930.00 million during the quarter, compared to analyst estimates of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. Equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.05%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 58.60%.

Reynolds Consumer Products 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.