Wealth Enhancement Advisory Services LLC Purchases Shares of 12,753 Reynolds Consumer Products Inc. (NASDAQ:REYN)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,753 shares of the company’s stock, valued at approximately $357,000.

A number of other large investors have also made changes to their positions in the stock. GAMMA Investing LLC grew its position in Reynolds Consumer Products by 510.2% during the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $27,000 after buying an additional 801 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Reynolds Consumer Products in the first quarter valued at about $35,000. Versant Capital Management Inc acquired a new position in Reynolds Consumer Products in the second quarter worth about $39,000. Quadrant Capital Group LLC lifted its stake in Reynolds Consumer Products by 97.2% during the fourth 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 period. Finally, Principal Securities Inc. acquired a new stake in Reynolds Consumer Products during the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock opened at $30.70 on Friday. The stock’s fifty day simple moving average is $28.37 and its 200 day simple moving average is $28.54. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $6.45 billion, a PE ratio of 19.55 and a beta of 0.47. Reynolds Consumer Products Inc. has a 12 month low of $24.80 and a 12 month high of $31.01.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The company had revenue of $930.00 million for the quarter, compared to analyst estimates of $890.71 million. During the same quarter last year, the firm posted $0.32 earnings per share. Reynolds Consumer Products’s revenue was down 1.1% compared to the same quarter last year. On average, research analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders 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 payout ratio is currently 58.60%.

Analyst Upgrades and Downgrades

REYN has been the topic of several analyst reports. Barclays upped their target price on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted 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. Canaccord Genuity Group upped their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada upped their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, Reynolds Consumer Products presently has an average rating of “Hold” and an average price target of $31.00.

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.