Keynote Financial Services LLC Takes Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Keynote Financial Services LLC purchased a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 15,364 shares of the company’s stock, valued at approximately $439,000.

Several other large investors have also modified their holdings of REYN. Venturi Wealth Management LLC bought a new position in shares of Reynolds Consumer Products during the 1st quarter worth approximately $35,000. Quadrant Capital Group LLC grew its position in 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 purchasing an additional 960 shares during the last quarter. Principal Securities Inc. purchased a new stake in Reynolds Consumer Products during the 4th quarter worth approximately $61,000. Parallel Advisors LLC grew its position in Reynolds Consumer Products by 26.9% during the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock worth $61,000 after purchasing an additional 485 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Reynolds Consumer Products by 467.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock worth $66,000 after purchasing an additional 2,012 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on REYN shares. Canaccord Genuity Group boosted their target price on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, May 9th. Barclays dropped their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Reynolds Consumer Products has an average rating of “Hold” and a consensus price target of $29.67.

Reynolds Consumer Products Stock Performance

Shares of REYN stock traded up $0.45 during trading hours on Friday, hitting $28.68. The company’s stock had a trading volume of 385,850 shares, compared to its average volume of 427,255. The company has a 50 day moving average of $27.81 and a 200 day moving average of $28.26. The stock has a market cap of $6.03 billion, a PE ratio of 18.27 and a beta of 0.47. The company has a current ratio of 2.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.92. Reynolds Consumer Products Inc. has a 12-month low of $24.80 and a 12-month high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $833.00 million for the quarter, compared to the consensus estimate of $814.92 million. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. On average, sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 58.60%.

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.