Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Bought by Savant Capital LLC

Savant Capital LLC lifted its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 135.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,429 shares of the company’s stock after acquiring an additional 15,764 shares during the period. Savant Capital LLC’s holdings in Reynolds Consumer Products were worth $767,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 801 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Reynolds Consumer Products during the second quarter valued at approximately $39,000. Quadrant Capital Group LLC lifted its stake in shares of Reynolds Consumer Products by 97.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock valued at $52,000 after buying an additional 960 shares during the period. Principal Securities Inc. acquired a new stake in Reynolds Consumer Products during the fourth quarter worth approximately $61,000. Finally, Parallel Advisors LLC grew its stake in Reynolds Consumer Products by 26.9% in the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock worth $61,000 after acquiring an additional 485 shares during the period. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Down 1.5 %

REYN opened at $31.63 on Thursday. The company has a market cap of $6.65 billion, a PE ratio of 20.15 and a beta of 0.48. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. Reynolds Consumer Products Inc. has a 1 year low of $24.80 and a 1 year high of $32.65. The firm has a 50 day moving average price of $29.27 and a 200 day moving average price of $28.80.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. The company 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 quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. Sell-side analysts expect that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio is presently 58.60%.

Analyst Upgrades and Downgrades

REYN has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Barclays raised their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Canaccord Genuity Group upped their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus target price of $32.00.

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.