World Investment Advisors LLC Makes New $538,000 Investment in Reynolds Consumer Products Inc. (NASDAQ:REYN)

World Investment Advisors LLC bought a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,292 shares of the company’s stock, valued at approximately $538,000.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC bought a new position in shares of Reynolds Consumer Products in the third quarter valued at approximately $29,000. Abich Financial Wealth Management LLC bought a new position in shares of Reynolds Consumer Products in the second quarter valued at approximately $54,000. Capital Performance Advisors LLP bought a new position in shares of Reynolds Consumer Products in the third quarter valued at approximately $70,000. Venturi Wealth Management LLC raised its stake in shares of Reynolds Consumer Products by 93.7% in the third quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock valued at $80,000 after acquiring an additional 1,239 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Reynolds Consumer Products in the second quarter valued at approximately $90,000. Institutional investors own 26.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Rolf Stangl purchased 7,207 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $27.25 per share, with a total value of $196,390.75. Following the acquisition, the director now directly owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Helen Golding purchased 1,190 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the acquisition, the director now directly owns 1,190 shares in the company, valued at $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on REYN. Barclays cut their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Jefferies Financial Group initiated 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 objective for the company. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Reynolds Consumer Products presently has a consensus rating of “Hold” and a consensus price target of $32.17.

Reynolds Consumer Products Stock Performance

REYN stock opened at $27.91 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. The company has a 50 day moving average price of $28.36 and a 200 day moving average price of $29.00. Reynolds Consumer Products Inc. has a fifty-two week low of $26.27 and a fifty-two week high of $32.65. The stock has a market capitalization of $5.87 billion, a PE ratio of 15.95 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data 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 return on equity of 18.27% and a net margin of 10.03%. The company had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. During the same quarter last year, the firm earned $0.37 EPS. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts forecast that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio is presently 52.57%.

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.