nVerses Capital LLC Acquires New Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

nVerses Capital LLC acquired a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) during the second quarter, HoldingsChannel reports. The fund acquired 3,200 shares of the company’s stock, valued at approximately $90,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Reynolds Consumer Products by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock valued at $161,739,000 after purchasing an additional 29,838 shares during the period. Quest Partners LLC acquired a new position in Reynolds Consumer Products in the fourth quarter valued at about $913,000. Acadian Asset Management LLC boosted its holdings in Reynolds Consumer Products by 994.7% during the first quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock worth $6,068,000 after buying an additional 193,265 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Reynolds Consumer Products by 23.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock worth $31,069,000 after buying an additional 218,864 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Reynolds Consumer Products in the 2nd quarter valued at about $695,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Trading Down 0.1 %

Shares of NASDAQ:REYN opened at $31.48 on Wednesday. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 20.05 and a beta of 0.48. The company’s fifty day simple moving average is $28.75 and its 200 day simple moving average is $28.68. Reynolds Consumer Products Inc. has a 12 month low of $24.80 and a 12 month high of $31.82. The company has a quick ratio of 1.01, a current ratio of 2.13 and a debt-to-equity ratio of 0.87.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data 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 net margin of 9.74% and a return on equity of 18.27%. The business had revenue of $930.00 million for the quarter, compared to analyst estimates of $890.71 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on REYN shares. Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They set a “buy” rating and a $38.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target 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. Barclays upped their price objective on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised their price objective on 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. Finally, Canaccord Genuity Group boosted their target price 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. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.