Envestnet Asset Management Inc. lessened its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 14.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 109,675 shares of the company’s stock after selling 19,178 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Reynolds Consumer Products were worth $3,329,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in REYN. Dimensional Fund Advisors LP boosted its position in Reynolds Consumer Products by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,620 shares of the company’s stock worth $529,000 after acquiring an additional 551 shares during the period. Comerica Bank acquired a new position in Reynolds Consumer Products during the 1st quarter worth $1,101,000. Natixis Advisors L.P. raised its stake in shares of Reynolds Consumer Products by 11.7% in the 1st quarter. Natixis Advisors L.P. now owns 99,654 shares of the company’s stock worth $2,967,000 after buying an additional 10,455 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Reynolds Consumer Products by 1.0% in the 1st quarter. Rhumbline Advisers now owns 47,972 shares of the company’s stock worth $1,429,000 after buying an additional 458 shares in the last quarter. Finally, The PNC Financial Services Group Inc. raised its stake in shares of Reynolds Consumer Products by 22.7% in the 1st quarter. The PNC Financial Services Group Inc. now owns 2,041 shares of the company’s stock worth $61,000 after buying an additional 378 shares in the last quarter. Institutional investors own 26.69% of the company’s stock.
A number of analysts have recently commented on REYN shares. Credit Suisse Group dropped their price objective on Reynolds Consumer Products from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 3rd. Zacks Investment Research lowered Reynolds Consumer Products from a “hold” rating to a “sell” rating in a research report on Saturday, July 31st. UBS Group started coverage on Reynolds Consumer Products in a research report on Wednesday, June 23rd. They set a “neutral” rating and a $32.00 target price on the stock. Citigroup cut their target price on Reynolds Consumer Products from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, August 3rd. Finally, Royal Bank of Canada cut their target price on Reynolds Consumer Products from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $33.63.
NASDAQ:REYN opened at $27.94 on Wednesday. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 15.52 and a beta of 0.36. Reynolds Consumer Products Inc. has a 1-year low of $26.50 and a 1-year high of $32.63. The company has a current ratio of 2.21, a quick ratio of 0.93 and a debt-to-equity ratio of 1.25. The business’s fifty day moving average price is $28.71 and its 200 day moving average price is $29.61.
Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Sunday, August 1st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Reynolds Consumer Products had a return on equity of 24.36% and a net margin of 11.34%. The firm had revenue of $847.00 million for the quarter, compared to the consensus estimate of $893.53 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts forecast that Reynolds Consumer Products Inc. will post 1.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Tuesday, August 17th were paid a $0.23 dividend. The ex-dividend date was Monday, August 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.29%. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 46.70%.
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 foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and E-Z Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.
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