Kapitalo Investimentos Ltda Takes Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Kapitalo Investimentos Ltda bought a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,830 shares of the company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of 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 in the last quarter. Versant Capital Management Inc acquired a new stake in Reynolds Consumer Products in the second quarter worth about $39,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Reynolds Consumer Products during the second quarter worth about $54,000. nVerses Capital LLC acquired a new position in shares of Reynolds Consumer Products during the second quarter valued at about $90,000. Finally, Covestor Ltd increased its holdings in shares of Reynolds Consumer Products by 15.8% during the first quarter. Covestor Ltd now owns 3,520 shares of the company’s stock valued at $101,000 after acquiring an additional 480 shares in the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays raised their price target on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Canaccord Genuity Group lifted their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada increased their price objective 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. JPMorgan Chase & Co. lifted their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.33.

Reynolds Consumer Products Stock Down 0.2 %

REYN opened at $30.38 on Thursday. The company has a fifty day moving average of $30.87 and a two-hundred day moving average of $29.13. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. Reynolds Consumer Products Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $32.65. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 19.35 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results 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 analyst estimates 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 revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 EPS. On average, research analysts expect that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.03%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 58.60%.

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.