Abich Financial Wealth Management LLC Acquires Shares of 1,943 Reynolds Consumer Products Inc. (NASDAQ:REYN)

Abich Financial Wealth Management LLC bought a new position in Reynolds Consumer Products Inc. (NASDAQ:REYN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,943 shares of the company’s stock, valued at approximately $54,000.

A number of other large investors have also modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 801 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Reynolds Consumer Products in the second quarter worth about $39,000. Parallel Advisors LLC boosted its holdings in Reynolds Consumer Products by 26.9% in the fourth quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after purchasing an additional 485 shares during the last quarter. nVerses Capital LLC purchased a new stake in Reynolds Consumer Products during the 2nd quarter worth approximately $90,000. Finally, Covestor Ltd boosted its stake in shares of Reynolds Consumer Products by 15.8% during the 1st quarter. Covestor Ltd now owns 3,520 shares of the company’s stock valued at $101,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Down 0.9 %

REYN opened at $30.72 on Thursday. The stock’s 50 day moving average price is $30.09 and its 200 day moving average price is $28.94. 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 has a market cap of $6.46 billion, a P/E ratio of 19.57 and a beta of 0.48. Reynolds Consumer Products Inc. has a 12 month low of $24.80 and a 12 month high of $32.65.

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

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio is currently 58.60%.

Wall Street Analysts Forecast Growth

REYN has been the topic of a number of research analyst reports. Barclays increased 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 note on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Canaccord Genuity Group raised their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Royal Bank of Canada boosted their price objective 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.00.

Reynolds Consumer Products Company 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.