Deroy & Devereaux Private Investment Counsel Inc. Raises Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

by · The Markets Daily

Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN – Free Report) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,425 shares of the company’s stock after acquiring an additional 845 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. owned 0.06% of Reynolds Consumer Products worth $4,212,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of REYN. Pacer Advisors Inc. grew its stake in Reynolds Consumer Products by 48.6% during the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock valued at $108,845,000 after acquiring an additional 1,272,353 shares in the last quarter. AQR Capital Management LLC grew its stake in 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in Reynolds Consumer Products by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock valued at $49,859,000 after acquiring an additional 261,513 shares in the last quarter. Acadian Asset Management LLC grew its stake in Reynolds Consumer Products by 994.7% during the first quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock valued at $6,068,000 after acquiring an additional 193,265 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Reynolds Consumer Products by 188.8% during the second quarter. American Century Companies Inc. now owns 280,137 shares of the company’s stock valued at $7,838,000 after acquiring an additional 183,125 shares in the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Trading Down 2.7 %

Shares of REYN opened at $26.95 on Friday. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 15.40 and a beta of 0.48. 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 $25.08 and a fifty-two week high of $32.65. The firm has a 50 day moving average price of $30.71 and a 200-day moving average price of $29.21.

Reynolds Consumer Products (NASDAQ:REYN – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a return on equity of 18.41% and a net margin of 10.03%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. As a group, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.23 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.41%. Reynolds Consumer Products’s payout ratio is 52.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on REYN shares. Barclays cut their price target 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. Canaccord Genuity Group boosted their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target 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. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. Finally, Royal Bank of Canada boosted their price target on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.17.

View Our Latest Stock Analysis on REYN

About Reynolds Consumer Products

(Free Report)

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.

Further Reading

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