Eaton Vance Management Increases Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Eaton Vance Management lifted its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN – Get Rating) by 41.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,562 shares of the company’s stock after buying an additional 6,856 shares during the quarter. Eaton Vance Management’s holdings in Reynolds Consumer Products were worth $613,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Guggenheim Capital LLC lifted its stake in Reynolds Consumer Products by 21.6% in the 3rd quarter. Guggenheim Capital LLC now owns 41,356 shares of the company’s stock worth $1,076,000 after purchasing an additional 7,343 shares in the last quarter. Verition Fund Management LLC lifted its stake in Reynolds Consumer Products by 268.8% in the 3rd quarter. Verition Fund Management LLC now owns 68,297 shares of the company’s stock worth $1,776,000 after purchasing an additional 49,776 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in Reynolds Consumer Products by 4.1% in the 3rd quarter. Bahl & Gaynor Inc. now owns 375,415 shares of the company’s stock worth $9,765,000 after purchasing an additional 14,873 shares in the last quarter. Northern Oak Wealth Management Inc. lifted its stake in Reynolds Consumer Products by 10,459.8% in the 3rd quarter. Northern Oak Wealth Management Inc. now owns 8,659 shares of the company’s stock worth $225,000 after purchasing an additional 8,577 shares in the last quarter. Finally, MML Investors Services LLC lifted its stake in Reynolds Consumer Products by 22.2% in the 3rd quarter. MML Investors Services LLC now owns 18,398 shares of the company’s stock worth $479,000 after purchasing an additional 3,348 shares in the last quarter. 29.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on REYN shares. JPMorgan Chase & Co. increased their target price on shares of Reynolds Consumer Products from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 13th. TheStreet lowered shares of Reynolds Consumer Products from a “b” rating to a “c+” rating in a report on Monday, February 6th. UBS Group decreased 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 report on Thursday, February 9th. Barclays increased their price target on shares of Reynolds Consumer Products to $27.00 in a report on Tuesday, November 15th. Finally, Royal Bank of Canada decreased their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “sector perform” rating on the stock in a report on Thursday, February 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Reynolds Consumer Products has an average rating of “Hold” and a consensus target price of $30.00.

Reynolds Consumer Products Price Performance

REYN stock opened at $27.16 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.91 and a current ratio of 2.36. Reynolds Consumer Products Inc. has a 52 week low of $24.54 and a 52 week high of $32.50. The firm’s fifty day moving average is $29.00 and its 200 day moving average is $29.18. The firm has a market cap of $5.70 billion, a P/E ratio of 21.90 and a beta of 0.47.

Reynolds Consumer Products (NASDAQ:REYN – Get Rating) last released its earnings results on Wednesday, February 8th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.04). Reynolds Consumer Products had a net margin of 6.83% and a return on equity of 14.98%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business posted $0.51 EPS. Reynolds Consumer Products’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts predict that Reynolds Consumer Products Inc. will post 1.35 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Tuesday, February 14th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Monday, February 13th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 74.19%.

About Reynolds Consumer Products

(Get Rating)

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.