Hennion & Walsh Asset Management Inc. Increases Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Hennion & Walsh Asset Management Inc. increased its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,262 shares of the company’s stock after purchasing an additional 1,357 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Reynolds Consumer Products were worth $2,030,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Park Avenue Securities LLC increased its position in shares of 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 purchasing an additional 359 shares during the last quarter. Ariel Investments LLC increased its holdings in Reynolds Consumer Products by 7.0% during the first 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 last quarter. Covestor Ltd raised its position in Reynolds Consumer Products by 15.8% in the first quarter. Covestor Ltd now owns 3,520 shares of the company’s stock worth $101,000 after acquiring an additional 480 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of Reynolds Consumer Products by 4.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,181 shares of the company’s stock worth $341,000 after acquiring an additional 550 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of 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 acquiring an additional 608 shares during the period. 26.81% of the stock is owned by hedge funds and other institutional investors.

Reynolds Consumer Products Stock Performance

REYN opened at $29.81 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 18.99 and a beta of 0.48. The company has a fifty day moving average of $30.87 and a 200 day moving average of $29.20. Reynolds Consumer Products Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The firm had revenue of $930.00 million during the quarter, compared to analyst estimates of $890.71 million. During the same quarter last year, the business posted $0.32 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on REYN shares. Barclays raised their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Canaccord Genuity Group boosted their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They set a “buy” rating and a $38.00 target price on the stock. Royal Bank of Canada upped their price target 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. Finally, JPMorgan Chase & Co. raised 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 report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average 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.