Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Wealth Enhancement Advisory Services LLC grew its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 106.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,288 shares of the company’s stock after purchasing an additional 13,535 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Reynolds Consumer Products were worth $818,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in REYN. Pacer Advisors Inc. increased its holdings in shares of Reynolds Consumer Products by 48.6% during the 2nd quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock worth $108,845,000 after buying an additional 1,272,353 shares during the last quarter. AQR Capital Management LLC increased its holdings in Reynolds Consumer Products by 122.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock valued at $43,588,000 after purchasing an additional 858,419 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Reynolds Consumer Products by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock valued at $49,859,000 after purchasing an additional 261,513 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Reynolds Consumer Products by 994.7% in the 1st quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock valued at $6,068,000 after purchasing an additional 193,265 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Reynolds Consumer Products by 188.8% in the 2nd quarter. American Century Companies Inc. now owns 280,137 shares of the company’s stock valued at $7,838,000 after purchasing an additional 183,125 shares during the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Price Performance

Reynolds Consumer Products stock opened at $27.18 on Thursday. The stock has a market cap of $5.71 billion, a P/E ratio of 15.53 and a beta of 0.50. The company has a fifty day simple moving average of $30.40 and a 200-day simple moving average of $29.19. Reynolds Consumer Products Inc. has a 12-month low of $25.60 and a 12-month high of $32.65. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $902.88 million. During the same period last year, the firm posted $0.37 earnings per share. Reynolds Consumer Products’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts expect that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors 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 yield of 3.38%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 52.57%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on REYN shares. Barclays dropped their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Canaccord Genuity Group boosted 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 note on Thursday, August 8th. Royal Bank of Canada boosted their price target on shares of 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. Jefferies Financial Group began coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target 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. Five research 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, the company currently has an average rating of “Hold” and a consensus target price of $32.17.

Insider Activity at Reynolds Consumer Products

In related news, Director Rolf Stangl purchased 7,207 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $27.25 per share, with a total value of $196,390.75. Following the completion of the transaction, the director now directly owns 7,207 shares in the company, valued at approximately $196,390.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is 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.