Delap Wealth Advisory LLC Takes Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Delap Wealth Advisory LLC bought a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,295 shares of the company’s stock, valued at approximately $428,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sei Investments Co. increased its stake in Reynolds Consumer Products by 18.5% in the second quarter. Sei Investments Co. now owns 612,775 shares of the company’s stock valued at $17,146,000 after purchasing an additional 95,469 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Reynolds Consumer Products by 48.6% during the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock worth $108,845,000 after buying an additional 1,272,353 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Reynolds Consumer Products in the 2nd quarter valued at about $126,000. Amalgamated Bank raised its stake in Reynolds Consumer Products by 49.9% during the 2nd quarter. Amalgamated Bank now owns 9,615 shares of the company’s stock valued at $269,000 after acquiring an additional 3,202 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Reynolds Consumer Products by 22.2% during the 2nd quarter. Renaissance Technologies LLC now owns 304,705 shares of the company’s stock worth $8,526,000 after acquiring an additional 55,405 shares during the period. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Trading Up 2.7 %

Shares of REYN opened at $32.17 on Friday. Reynolds Consumer Products Inc. has a twelve month low of $24.80 and a twelve month high of $32.65. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $6.76 billion, a P/E ratio of 20.49 and a beta of 0.48. The firm’s 50-day moving average is $29.93 and its two-hundred day moving average is $28.92.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $930.00 million during the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. Reynolds Consumer Products’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.92 dividend on an annualized basis and a yield of 2.86%. Reynolds Consumer Products’s payout ratio is 58.60%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. 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 target for the company. JPMorgan Chase & Co. raised their target price on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Royal Bank of Canada lifted their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Canaccord Genuity Group raised 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 report on Thursday, August 8th. Finally, Barclays boosted their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.00.

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.