Signaturefd LLC Increases Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Signaturefd LLC lifted its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 13.0% in the second quarter, Holdings Channel reports. The firm owned 5,287 shares of the company’s stock after buying an additional 608 shares during the period. Signaturefd LLC’s holdings in Reynolds Consumer Products were worth $148,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of REYN. Victory Capital Management Inc. boosted its holdings in shares of Reynolds Consumer Products by 21.7% in the fourth 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 period. Gallacher Capital Management LLC bought a new position in Reynolds Consumer Products in the fourth quarter worth approximately $259,000. Charles Schwab Investment Management Inc. raised its stake in Reynolds Consumer Products by 10.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 536,320 shares of the company’s stock worth $14,395,000 after buying an additional 50,425 shares in the last quarter. Principal Securities Inc. bought a new position in Reynolds Consumer Products in the fourth quarter worth approximately $61,000. Finally, Teacher Retirement System of Texas bought a new position in Reynolds Consumer Products in the fourth quarter worth approximately $491,000. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Price Performance

NASDAQ REYN opened at $31.50 on Tuesday. 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 stock’s fifty day moving average price is $28.70 and its 200 day moving average price is $28.66. Reynolds Consumer Products Inc. has a 1 year low of $24.80 and a 1 year high of $31.82. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 20.06 and a beta of 0.47.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $930.00 million for the quarter, compared to the consensus estimate of $890.71 million. During the same period in the prior year, the firm earned $0.32 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, August 16th. Reynolds Consumer Products’s payout ratio is 58.60%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on REYN. 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 note on Thursday, August 8th. Royal Bank of Canada boosted their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Canaccord Genuity Group upped their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Barclays upped their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group assumed coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $32.00.

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.