Robeco Institutional Asset Management B.V. Buys New Shares in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Robeco Institutional Asset Management B.V. bought a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 65,154 shares of the company’s stock, valued at approximately $2,026,000.

Several other hedge funds have also made changes to their positions in REYN. Pacer Advisors Inc. lifted its stake in shares of Reynolds Consumer Products by 48.6% in the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock valued at $108,845,000 after buying an additional 1,272,353 shares during the period. AQR Capital Management LLC lifted its stake in Reynolds Consumer Products by 122.7% during the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock worth $43,588,000 after purchasing an additional 858,419 shares during the period. Dimensional Fund Advisors LP lifted its stake in Reynolds Consumer Products by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock worth $49,859,000 after purchasing an additional 261,513 shares during the period. Acadian Asset Management LLC lifted its stake 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 purchasing an additional 193,265 shares during the period. Finally, American Century Companies Inc. lifted its stake in Reynolds Consumer Products by 188.8% during the second quarter. American Century Companies Inc. now owns 280,137 shares of the company’s stock worth $7,838,000 after purchasing an additional 183,125 shares during the period. Institutional investors own 26.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. raised 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 note on Thursday, August 8th. Canaccord Genuity Group raised their price target on shares of 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 research note on Thursday, August 29th. They set a “buy” rating and a $38.00 price target for the company. Barclays dropped their price objective on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Royal Bank of Canada raised their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Reynolds Consumer Products has an average rating of “Hold” and a consensus target price of $32.17.

Insider Transactions at Reynolds Consumer Products

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

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock opened at $27.44 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. The firm has a market cap of $5.77 billion, a P/E ratio of 15.68 and a beta of 0.50. The firm has a 50 day simple moving average of $30.24 and a 200 day simple moving average of $29.17. Reynolds Consumer Products Inc. has a fifty-two week low of $25.80 and a fifty-two week high of $32.65.

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

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.35%. Reynolds Consumer Products’s dividend 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.