Creative Planning Purchases 2,204 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Creative Planning lifted its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 14.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 17,106 shares of the company’s stock after acquiring an additional 2,204 shares during the quarter. Creative Planning’s holdings in Reynolds Consumer Products were worth $532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC grew its position in shares of Reynolds Consumer Products by 45.5% during the 3rd quarter. CWM LLC now owns 32,088 shares of the company’s stock worth $998,000 after buying an additional 10,038 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Reynolds Consumer Products by 68.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock worth $709,000 after buying an additional 9,300 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Reynolds Consumer Products during the 2nd quarter worth $367,000. AQR Capital Management LLC grew its position in shares of Reynolds Consumer Products by 122.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock worth $43,588,000 after buying an additional 858,419 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Reynolds Consumer Products during the 2nd quarter worth $54,000. Institutional investors own 26.81% of the company’s stock.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl acquired 7,207 shares of Reynolds Consumer Products stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the purchase, the director now directly owns 7,207 shares in the company, valued at $196,390.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on REYN. Royal Bank of Canada raised their price objective on 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. Barclays dropped their price objective on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Canaccord Genuity Group raised their price objective on 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 began coverage on 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. raised their price objective on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.17.

Reynolds Consumer Products Price Performance

Shares of NASDAQ REYN opened at $27.13 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. The company has a market cap of $5.70 billion, a PE ratio of 15.50 and a beta of 0.50. The business has a 50-day simple moving average of $30.48 and a two-hundred day simple moving average of $29.20. Reynolds Consumer Products Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $910.00 million during the quarter, compared to analyst estimates of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. Reynolds Consumer Products’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 EPS. As a group, equities analysts expect that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s payout ratio is 52.57%.

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.