Creative Planning Buys 2,204 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Creative Planning lifted its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 14.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,106 shares of the company’s stock after acquiring an additional 2,204 shares during the quarter. Creative Planning’s holdings in Reynolds Consumer Products were worth $532,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in REYN. GAMMA Investing LLC boosted its stake in Reynolds Consumer Products by 510.2% in the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $27,000 after purchasing an additional 801 shares during the period. Versant Capital Management Inc bought a new position in Reynolds Consumer Products in the 2nd quarter worth approximately $39,000. Abich Financial Wealth Management LLC bought a new position in Reynolds Consumer Products in the 2nd quarter worth approximately $54,000. nVerses Capital LLC bought a new position in Reynolds Consumer Products in the 2nd quarter worth approximately $90,000. Finally, Covestor Ltd boosted its stake in Reynolds Consumer Products by 15.8% in the 1st quarter. Covestor Ltd now owns 3,520 shares of the company’s stock worth $101,000 after purchasing an additional 480 shares during the period. 26.81% of the stock is currently owned by institutional investors.

Reynolds Consumer Products Stock Performance

NASDAQ:REYN opened at $27.13 on Wednesday. The stock’s fifty day moving average is $30.48 and its 200 day moving average is $29.20. Reynolds Consumer Products Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $32.65. The firm has a market capitalization of $5.70 billion, a PE ratio of 15.50 and a beta of 0.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04.

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). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The company had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. During the same quarter in the previous year, the company posted $0.37 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.39%. Reynolds Consumer Products’s payout ratio is 52.57%.

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 acquired at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the purchase, the director now directly owns 7,207 shares in the company, valued at approximately $196,390.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank of Canada upped their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Jefferies Financial Group started coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 target price for the company. Barclays lowered their target price on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group increased their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $32.17.

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.