Ceredex Value Advisors LLC Buys 2,000 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Ceredex Value Advisors LLC raised its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 347,624 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.17% of Reynolds Consumer Products worth $9,727,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its stake in shares of Reynolds Consumer Products by 467.9% in the fourth quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock valued at $66,000 after buying an additional 2,012 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Reynolds Consumer Products by 14.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,665 shares of the company’s stock worth $394,000 after purchasing an additional 1,864 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Reynolds Consumer Products by 120.8% in the 4th quarter. Signaturefd LLC now owns 4,106 shares of the company’s stock valued at $110,000 after purchasing an additional 2,246 shares during the period. Victory Capital Management Inc. lifted its stake in Reynolds Consumer Products by 21.7% in the 4th quarter. Victory Capital Management Inc. now owns 14,684 shares of the company’s stock valued at $394,000 after purchasing an additional 2,619 shares during the last quarter. Finally, Gallacher Capital Management LLC acquired a new stake in Reynolds Consumer Products in the 4th quarter valued at about $259,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Canaccord Genuity Group upped their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Royal Bank of Canada increased their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Barclays upped their price target on shares of 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, JPMorgan Chase & Co. raised their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.00.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock traded up $0.03 during midday trading on Friday, hitting $30.70. The company’s stock had a trading volume of 288,367 shares, compared to its average volume of 529,412. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 19.55 and a beta of 0.47. Reynolds Consumer Products Inc. has a 1-year low of $24.80 and a 1-year high of $31.01. The company has a 50-day moving average price of $28.37 and a two-hundred day moving average price of $28.54.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $930.00 million during the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. As a group, sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.00%. 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.