Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Acquired by Eagle Ridge Investment Management

Eagle Ridge Investment Management lifted its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,265 shares of the company’s stock after acquiring an additional 5,819 shares during the period. Eagle Ridge Investment Management owned 0.18% of Reynolds Consumer Products worth $10,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in shares of Reynolds Consumer Products by 97.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock valued at $52,000 after purchasing an additional 960 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Reynolds Consumer Products in the 4th quarter worth $61,000. Parallel Advisors LLC raised its holdings in shares of Reynolds Consumer Products by 26.9% during the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock worth $61,000 after acquiring an additional 485 shares during the period. International Assets Investment Management LLC boosted its position in shares of Reynolds Consumer Products by 467.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock valued at $66,000 after acquiring an additional 2,012 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Reynolds Consumer Products by 120.8% in the fourth quarter. Signaturefd LLC now owns 4,106 shares of the company’s stock valued at $110,000 after purchasing an additional 2,246 shares during the period. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Reynolds Consumer Products Trading Down 0.1 %

Shares of REYN stock traded down $0.03 on Tuesday, hitting $27.55. The stock had a trading volume of 526,778 shares, compared to its average volume of 549,656. The company’s 50 day moving average price is $28.53 and its 200-day moving average price is $28.20. Reynolds Consumer Products Inc. has a 1 year low of $24.80 and a 1 year high of $30.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.11 and a quick ratio of 1.01. The firm has a market capitalization of $5.79 billion, a P/E ratio of 17.57 and a beta of 0.47.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The business had revenue of $833.00 million during the quarter, compared to analyst estimates of $814.92 million. During the same quarter last year, the firm posted $0.08 earnings per share. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. Analysts anticipate that Reynolds Consumer Products Inc. will post 1.67 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Thursday, May 16th. Reynolds Consumer Products’s payout ratio is currently 58.60%.

Analyst Ratings Changes

REYN has been the topic of several analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price target on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Canaccord Genuity Group upped their price target on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. Barclays raised their price objective on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.00.

About Reynolds Consumer Products

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.