Stifel Financial Corp Acquires 47,337 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Stifel Financial Corp lifted its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 103.1% during the third quarter, HoldingsChannel reports. The firm owned 93,229 shares of the company’s stock after purchasing an additional 47,337 shares during the quarter. Stifel Financial Corp’s holdings in Reynolds Consumer Products were worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC purchased a new position in Reynolds Consumer Products in the second quarter valued at about $357,000. Envestnet Portfolio Solutions Inc. increased its position in Reynolds Consumer Products by 45.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,784 shares of the company’s stock worth $330,000 after buying an additional 3,677 shares during the last quarter. Ceredex Value Advisors LLC raised its stake in shares of Reynolds Consumer Products by 0.6% in the second quarter. Ceredex Value Advisors LLC now owns 347,624 shares of the company’s stock valued at $9,727,000 after buying an additional 2,000 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Reynolds Consumer Products by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company’s stock valued at $28,166,000 after buying an additional 66,826 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of Reynolds Consumer Products by 0.9% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 134,580 shares of the company’s stock worth $3,766,000 after acquiring an additional 1,200 shares during the period. 26.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Helen Golding acquired 1,190 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the acquisition, the director now owns 1,190 shares of the company’s stock, valued at $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rolf Stangl acquired 7,207 shares of Reynolds Consumer Products stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the transaction, the director now directly owns 7,207 shares in the company, valued at approximately $196,390.75. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on REYN shares. Barclays lowered 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 note on Thursday, October 31st. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.17.

Reynolds Consumer Products Trading Down 0.4 %

Shares of Reynolds Consumer Products stock opened at $27.91 on Wednesday. The company’s 50-day moving average price is $28.36 and its 200-day moving average price is $29.00. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 15.95 and a beta of 0.50. Reynolds Consumer Products Inc. has a 12-month low of $26.27 and a 12-month high of $32.65. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Reynolds Consumer Products (NASDAQ:REYN) last released 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 firm had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. On average, equities analysts expect that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.30%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 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.