Creative Planning Buys 944 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Creative Planning raised its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 6.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,902 shares of the company’s stock after buying an additional 944 shares during the period. Creative Planning’s holdings in Reynolds Consumer Products were worth $417,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Park Avenue Securities LLC boosted its position in Reynolds Consumer Products by 2.8% during the 1st quarter. Park Avenue Securities LLC now owns 12,959 shares of the company’s stock valued at $370,000 after buying an additional 359 shares during the period. Ariel Investments LLC boosted its position in Reynolds Consumer Products by 7.0% during the 1st quarter. Ariel Investments LLC now owns 7,136 shares of the company’s stock valued at $204,000 after buying an additional 466 shares during the period. Covestor Ltd boosted its position in 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 period. Crossmark Global Holdings Inc. boosted its position in Reynolds Consumer Products by 4.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,181 shares of the company’s stock valued at $341,000 after buying an additional 550 shares during the period. Finally, Signaturefd LLC boosted its position in Reynolds Consumer Products by 13.0% during the 2nd quarter. Signaturefd LLC now owns 5,287 shares of the company’s stock valued at $148,000 after buying an additional 608 shares during the period. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Trading Down 0.2 %

REYN stock opened at $30.38 on Thursday. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 19.35 and a beta of 0.48. Reynolds Consumer Products Inc. has a twelve month low of $24.85 and a twelve 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 firm’s fifty day simple moving average is $30.87 and its two-hundred day simple moving average is $29.13.

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

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio is presently 58.60%.

Analysts Set New Price Targets

REYN has been the subject of several research analyst reports. Barclays raised 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 raised their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price 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. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Royal Bank of Canada raised their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Five investment 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, Reynolds Consumer Products presently has an average rating of “Hold” and an average target price of $32.33.

About Reynolds Consumer Products

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.