Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC increased its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 2.8% in the first quarter, Holdings Channel.com reports. The firm owned 12,959 shares of the company’s stock after purchasing an additional 359 shares during the period. Park Avenue Securities LLC’s holdings in Reynolds Consumer Products were worth $370,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in REYN. Quadrant Capital Group LLC boosted its stake in Reynolds Consumer Products by 97.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock worth $52,000 after buying an additional 960 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Reynolds Consumer Products in the fourth quarter worth approximately $61,000. Parallel Advisors LLC increased its position in Reynolds Consumer Products by 26.9% during the fourth 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. International Assets Investment Management LLC raised its stake in Reynolds Consumer Products by 467.9% during the fourth 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 period. Finally, Signaturefd LLC boosted 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 last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on REYN. Canaccord Genuity Group increased their target price on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, May 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Barclays raised their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.00.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock opened at $27.98 on Monday. Reynolds Consumer Products Inc. has a 52 week low of $24.80 and a 52 week high of $30.54. The company has a current ratio of 2.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.92. The stock has a market cap of $5.88 billion, a P/E ratio of 17.82 and a beta of 0.48. The stock has a 50 day moving average of $28.54 and a 200-day moving average of $28.20.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $833.00 million during the quarter, compared to analyst estimates of $814.92 million. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.08 EPS. On average, analysts expect that Reynolds Consumer Products Inc. will post 1.67 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, May 16th. Reynolds Consumer Products’s payout ratio is currently 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.