Los Angeles Capital Management LLC Acquires 87,183 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Los Angeles Capital Management LLC boosted its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 854.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,381 shares of the company’s stock after purchasing an additional 87,183 shares during the period. Los Angeles Capital Management LLC’s holdings in Reynolds Consumer Products were worth $3,029,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its position in shares of Reynolds Consumer Products by 48.6% during the 2nd 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 period. AQR Capital Management LLC lifted its holdings in shares of Reynolds Consumer Products by 122.7% during the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock valued at $43,588,000 after acquiring an additional 858,419 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Reynolds Consumer Products by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock valued at $49,859,000 after purchasing an additional 261,513 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Reynolds Consumer Products by 994.7% in the 1st quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock worth $6,068,000 after purchasing an additional 193,265 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of Reynolds Consumer Products during the 3rd quarter worth about $5,731,000. 26.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Rolf Stangl acquired 7,207 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $27.25 per share, with a total value 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on REYN. Jefferies Financial Group began 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. JPMorgan Chase & Co. increased their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Royal Bank of Canada lifted their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. Barclays decreased their target price on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Canaccord Genuity Group raised their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.17.

Reynolds Consumer Products Trading Up 0.3 %

Shares of REYN opened at $27.63 on Wednesday. The stock’s fifty day simple moving average is $30.16 and its 200-day simple moving average is $29.17. The firm has a market capitalization of $5.81 billion, a PE ratio of 15.74 and a beta of 0.50. Reynolds Consumer Products Inc. has a 12-month low of $25.80 and a 12-month high of $32.65. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 earnings per share. As a group, research analysts predict 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 given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s payout ratio is 52.57%.

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.