Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC increased its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 93.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,561 shares of the company’s stock after purchasing an additional 1,239 shares during the period. Venturi Wealth Management LLC’s holdings in Reynolds Consumer Products were worth $80,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Reynolds Consumer Products by 1.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,925,469 shares of the company’s stock valued at $401,982,000 after acquiring an additional 137,083 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Reynolds Consumer Products by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock valued at $161,739,000 after purchasing an additional 29,838 shares in the last quarter. Pacer Advisors Inc. boosted 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 worth $108,845,000 after purchasing an additional 1,272,353 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 buying an additional 261,513 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Reynolds Consumer Products by 122.7% in the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock valued at $43,588,000 after buying an additional 858,419 shares during the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

REYN has been the subject of several research reports. JPMorgan Chase & Co. upped 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. Royal Bank of Canada increased their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Jefferies Financial Group assumed coverage on Reynolds Consumer Products in a research note on Thursday, August 29th. They set a “buy” rating and a $38.00 price objective on the stock. Barclays reduced their price target on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Canaccord Genuity Group upped their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.17.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl bought 7,207 shares of Reynolds Consumer Products stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the acquisition, the director now directly owns 7,207 shares in the company, valued at $196,390.75. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Reynolds Consumer Products Trading Up 0.6 %

Shares of REYN stock opened at $27.75 on Friday. The company has a 50-day moving average of $29.99 and a two-hundred day moving average of $29.15. The firm has a market cap of $5.83 billion, a PE ratio of 15.86 and a beta of 0.50. Reynolds Consumer Products Inc. has a 1-year low of $25.80 and a 1-year high of $32.65. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results 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). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The firm had revenue of $910.00 million during the quarter, compared to analysts’ expectations of $902.88 million. During the same period in the previous year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio is currently 52.57%.

Reynolds Consumer Products 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.