US Bancorp DE Has $1.47 Million Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

US Bancorp DE grew its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYNGet Rating) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,072 shares of the company’s stock after buying an additional 1,929 shares during the quarter. US Bancorp DE’s holdings in Reynolds Consumer Products were worth $1,469,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in shares of Reynolds Consumer Products by 6.2% during the first quarter. Bank of New York Mellon Corp now owns 675,785 shares of the company’s stock valued at $19,827,000 after buying an additional 39,307 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Reynolds Consumer Products by 7.1% during the first quarter. Raymond James & Associates now owns 64,637 shares of the company’s stock valued at $1,896,000 after buying an additional 4,280 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Reynolds Consumer Products during the first quarter valued at about $242,000. OLD National Bancorp IN lifted its position in shares of Reynolds Consumer Products by 19.4% during the first quarter. OLD National Bancorp IN now owns 145,427 shares of the company’s stock valued at $4,267,000 after purchasing an additional 23,592 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Reynolds Consumer Products by 7.3% during the first quarter. Swiss National Bank now owns 148,800 shares of the company’s stock valued at $4,366,000 after purchasing an additional 10,100 shares in the last quarter. 28.41% of the stock is currently owned by institutional investors and hedge funds.

Reynolds Consumer Products Stock Down 0.1 %

Shares of NASDAQ REYN opened at $27.96 on Monday. The firm has a fifty day simple moving average of $28.35 and a two-hundred day simple moving average of $28.51. The firm has a market capitalization of $5.87 billion, a PE ratio of 21.34 and a beta of 0.31. The company has a current ratio of 2.21, a quick ratio of 0.80 and a debt-to-equity ratio of 1.17. Reynolds Consumer Products Inc. has a 12 month low of $24.54 and a 12 month high of $32.29.

Reynolds Consumer Products (NASDAQ:REYNGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $917.00 million for the quarter, compared to the consensus estimate of $942.73 million. Reynolds Consumer Products had a net margin of 7.51% and a return on equity of 16.36%. Reynolds Consumer Products’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. Equities analysts expect that Reynolds Consumer Products Inc. will post 1.38 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Tuesday, August 16th. Reynolds Consumer Products’s payout ratio is 70.23%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on REYN. Citigroup dropped their price target on shares of Reynolds Consumer Products from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, June 27th. Barclays dropped their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Reynolds Consumer Products presently has an average rating of “Hold” and an average price target of $31.67.

About Reynolds Consumer Products

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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 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 E-Z 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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Institutional Ownership by Quarter for Reynolds Consumer Products (NASDAQ:REYN)

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