Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 22.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,705 shares of the company’s stock after acquiring an additional 55,405 shares during the period. Renaissance Technologies LLC owned 0.15% of Reynolds Consumer Products worth $8,526,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of 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. Versant Capital Management Inc acquired a new stake in shares of Reynolds Consumer Products in the 2nd quarter worth $39,000. Quadrant Capital Group LLC raised its holdings in shares of 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 acquiring an additional 960 shares during the period. Parallel Advisors LLC boosted its position in shares of Reynolds Consumer Products by 26.9% during the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after acquiring an additional 485 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Reynolds Consumer Products in the second quarter valued at about $90,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Trading Down 0.3 %

Shares of NASDAQ REYN opened at $30.99 on Wednesday. The stock has a fifty day simple moving average of $30.01 and a 200-day simple moving average of $28.93. Reynolds Consumer Products Inc. has a twelve month low of $24.80 and a twelve month high of $32.65. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $6.51 billion, a PE ratio of 19.74 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The company had revenue of $930.00 million for the quarter, compared to analyst estimates of $890.71 million. During the same period in the prior year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts forecast 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 was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.92 annualized dividend and a dividend yield of 2.97%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 58.60%.

Wall Street Analyst Weigh In

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

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 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.