Covestor Ltd Grows Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Covestor Ltd boosted its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 12.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,670 shares of the company’s stock after purchasing an additional 513 shares during the quarter. Covestor Ltd’s holdings in Reynolds Consumer Products were worth $111,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC grew its position in Reynolds Consumer Products by 418.8% during the 1st quarter. Cerity Partners LLC now owns 61,821 shares of the company’s stock valued at $1,475,000 after purchasing an additional 49,904 shares during the last quarter. GAMMA Investing LLC grew its position in Reynolds Consumer Products by 1,493.1% during the 1st quarter. GAMMA Investing LLC now owns 20,233 shares of the company’s stock valued at $483,000 after purchasing an additional 18,963 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Reynolds Consumer Products by 5.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 281,648 shares of the company’s stock valued at $6,720,000 after purchasing an additional 14,244 shares during the last quarter. Hunter Perkins Capital Management LLC purchased a new stake in Reynolds Consumer Products during the 1st quarter valued at about $649,000. Finally, Ameriprise Financial Inc. grew its position in Reynolds Consumer Products by 214.8% during the 4th quarter. Ameriprise Financial Inc. now owns 20,870 shares of the company’s stock valued at $563,000 after purchasing an additional 14,241 shares during the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on REYN shares. Wall Street Zen raised shares of Reynolds Consumer Products from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Barclays increased their price objective on shares of Reynolds Consumer Products from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Truist Financial lowered their target price on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Royal Bank Of Canada restated a “sector perform” rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Finally, Canaccord Genuity Group lowered their target price on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.00.

Reynolds Consumer Products Stock Performance

REYN opened at $22.54 on Tuesday. The company has a current ratio of 1.85, a quick ratio of 0.75 and a debt-to-equity ratio of 0.75. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 15.13 and a beta of 0.58. The company’s 50 day moving average is $21.79 and its 200 day moving average is $23.16. Reynolds Consumer Products Inc. has a 12-month low of $20.91 and a 12-month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Reynolds Consumer Products had a net margin of 8.44% and a return on equity of 16.00%. The business had revenue of $938.00 million for the quarter, compared to the consensus estimate of $899.05 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.92 annualized dividend and a yield of 4.1%. Reynolds Consumer Products’s payout ratio is currently 61.74%.

Insider Activity at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 4,500 shares of the stock in a transaction on Friday, June 20th. The shares were acquired at an average price of $21.24 per share, with a total value of $95,580.00. Following the completion of the acquisition, the director directly owned 30,889 shares of the company’s stock, valued at $656,082.36. This trade represents a 17.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Chris Mayrhofer purchased 18,218 shares of the stock in a transaction on Thursday, May 29th. The shares were purchased at an average cost of $22.14 per share, for a total transaction of $403,346.52. Following the acquisition, the chief accounting officer directly owned 18,218 shares of the company’s stock, valued at approximately $403,346.52. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 32,266 shares of company stock worth $707,582 in the last ninety days. Insiders own 0.15% of the company’s stock.

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.