Reynolds Consumer Products Inc. (NASDAQ:REYN) Position Raised by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 48.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,890,109 shares of the company’s stock after buying an additional 1,272,353 shares during the quarter. Pacer Advisors Inc. owned 1.85% of Reynolds Consumer Products worth $108,845,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Reynolds Consumer Products by 510.2% during the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after purchasing an additional 801 shares in the last quarter. Versant Capital Management Inc acquired a new position in Reynolds Consumer Products in the second quarter worth approximately $39,000. Quadrant Capital Group LLC grew its position in Reynolds Consumer Products by 97.2% in the fourth 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. bought a new stake in shares of Reynolds Consumer Products during the 4th quarter worth $61,000. Finally, Parallel Advisors LLC grew its holdings in shares of Reynolds Consumer Products by 26.9% in the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock worth $61,000 after acquiring an additional 485 shares during the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Reynolds Consumer Products Trading Up 2.7 %

Reynolds Consumer Products stock opened at $32.17 on Friday. Reynolds Consumer Products Inc. has a 12 month low of $24.80 and a 12 month high of $32.65. The company has a quick ratio of 1.01, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. The stock has a market cap of $6.76 billion, a P/E ratio of 20.49 and a beta of 0.48. The company’s fifty day simple moving average is $29.93 and its 200-day simple moving average is $28.92.

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

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.92 annualized dividend and a dividend yield of 2.86%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 58.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank of Canada upped their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Barclays lifted 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 research report on Thursday, August 8th. Canaccord Genuity Group upped their price target 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. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Reynolds Consumer Products presently has an average 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.