Sanctuary Advisors LLC Invests $367,000 in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Sanctuary Advisors LLC bought a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 12,887 shares of the company’s stock, valued at approximately $367,000.

Several other large investors have also recently bought and sold shares of REYN. Pacer Advisors Inc. raised its stake in Reynolds Consumer Products by 48.6% during the 2nd quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock valued at $108,845,000 after purchasing an additional 1,272,353 shares during the last quarter. AQR Capital Management LLC raised its stake in 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 valued at $43,588,000 after purchasing an additional 858,419 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Reynolds Consumer Products by 17.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock valued at $49,859,000 after purchasing an additional 261,513 shares during the last quarter. Acadian Asset Management LLC raised its stake in Reynolds Consumer Products by 994.7% during the 1st quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock valued at $6,068,000 after purchasing an additional 193,265 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Reynolds Consumer Products by 1.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,081,988 shares of the company’s stock valued at $373,622,000 after purchasing an additional 190,431 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Reynolds Consumer Products Stock Up 0.3 %

REYN opened at $30.46 on Friday. The firm’s 50-day simple moving average is $30.88 and its 200-day simple moving average is $29.14. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. Reynolds Consumer Products Inc. has a twelve month low of $24.85 and a twelve month high of $32.65. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 19.40 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $930.00 million for the quarter, compared to analyst estimates of $890.71 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, August 16th. Reynolds Consumer Products’s payout ratio is 58.60%.

Analyst Upgrades and Downgrades

Several research firms recently commented on REYN. Barclays upped their target price 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. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective for the company. Royal Bank of Canada increased 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 note on Thursday, August 8th. Canaccord Genuity Group increased their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.33.

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.