Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC lifted its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 418.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,821 shares of the company’s stock after buying an additional 49,904 shares during the quarter. Cerity Partners LLC’s holdings in Reynolds Consumer Products were worth $1,475,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Alps Advisors Inc. raised its holdings in shares of Reynolds Consumer Products by 7.8% during the 1st quarter. Alps Advisors Inc. now owns 90,578 shares of the company’s stock valued at $2,161,000 after buying an additional 6,527 shares during the period. Envestnet Asset Management Inc. increased its holdings in Reynolds Consumer Products by 5.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 281,648 shares of the company’s stock worth $6,720,000 after purchasing an additional 14,244 shares during the last quarter. Cannon Global Investment Management LLC increased its holdings in Reynolds Consumer Products by 74.4% during the 1st quarter. Cannon Global Investment Management LLC now owns 22,500 shares of the company’s stock worth $537,000 after purchasing an additional 9,600 shares during the last quarter. Villere ST Denis J & Co. LLC increased its holdings in Reynolds Consumer Products by 7.2% during the 1st quarter. Villere ST Denis J & Co. LLC now owns 315,945 shares of the company’s stock worth $7,538,000 after purchasing an additional 21,205 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC purchased a new stake in Reynolds Consumer Products during the 1st quarter worth approximately $649,000. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

REYN has been the subject of a number of research analyst reports. Barclays lowered their price target on Reynolds Consumer Products from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. JPMorgan Chase & Co. reduced their price target on Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. UBS Group reduced their price target on Reynolds Consumer Products from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, July 17th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $30.00 price target on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Finally, Stifel Nicolaus reduced their price target on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Reynolds Consumer Products has a consensus rating of “Hold” and a consensus target price of $27.67.

Insider Buying and Selling

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 4,500 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average cost of $21.24 per share, with a total value of $95,580.00. Following the acquisition, the director directly owned 30,889 shares of the company’s stock, valued at approximately $656,082.36. This trade represents a 17.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CAO Chris Mayrhofer purchased 5,048 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average cost of $21.99 per share, with a total value of $111,005.52. Following the completion of the acquisition, the chief accounting officer directly owned 23,266 shares in the company, valued at approximately $511,619.34. This represents a 27.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 34,766 shares of company stock valued at $765,632 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Reynolds Consumer Products Stock Performance

REYN opened at $21.55 on Tuesday. The company has a market cap of $4.53 billion, a PE ratio of 13.47 and a beta of 0.57. The stock has a 50-day moving average of $21.91 and a 200-day moving average of $23.67. Reynolds Consumer Products Inc. has a 52-week low of $20.91 and a 52-week high of $32.65. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 1.80.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. The firm had revenue of $801.00 million during the quarter, compared to the consensus estimate of $821.99 million. During the same quarter in the prior year, the company earned $0.23 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.27%. Reynolds Consumer Products’s dividend payout ratio is currently 57.50%.

Reynolds Consumer Products Company 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.