Beacon Harbor Wealth Advisors Inc. Makes New $5.73 Million Investment in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 184,274 shares of the company's stock, valued at approximately $5,731,000. Beacon Harbor Wealth Advisors Inc. owned approximately 0.09% of Reynolds Consumer Products at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its holdings in Reynolds Consumer Products by 1.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 12,925,469 shares of the company's stock valued at $401,982,000 after acquiring an additional 137,083 shares during the period. Vanguard Group Inc. boosted its stake in Reynolds Consumer Products by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company's stock valued at $161,739,000 after purchasing an additional 29,838 shares during the period. Pacer Advisors Inc. grew its holdings in Reynolds Consumer Products by 48.6% in the 2nd quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company's stock valued at $108,845,000 after buying an additional 1,272,353 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Reynolds Consumer Products by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company's stock worth $49,859,000 after acquiring an additional 261,513 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Reynolds Consumer Products by 122.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company's stock worth $43,588,000 after purchasing an additional 858,419 shares during the period. Institutional investors and hedge funds own 26.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a "sector perform" rating in a report on Thursday, August 8th. Jefferies Financial Group began 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. JPMorgan Chase & Co. upped their target price on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, August 8th. Canaccord Genuity Group raised their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a "hold" rating in a report on Thursday, August 8th. Finally, Barclays reduced their price objective on Reynolds Consumer Products from $29.00 to $28.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Reynolds Consumer Products currently has an average rating of "Hold" and an average price target of $32.17.

Insiders Place Their Bets

In related news, Director Rolf Stangl acquired 7,207 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the acquisition, the director now directly owns 7,207 shares in the company, valued at approximately $196,390.75. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Reynolds Consumer Products Trading Up 0.1 %

NASDAQ REYN traded up $0.03 during trading hours on Friday, hitting $27.44. The company's stock had a trading volume of 452,387 shares, compared to its average volume of 572,194. Reynolds Consumer Products Inc. has a twelve month low of $25.80 and a twelve month high of $32.65. The firm has a market capitalization of $5.77 billion, a P/E ratio of 15.68 and a beta of 0.50. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average of $30.32 and a 200 day moving average of $29.18.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). The company had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 EPS. Equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, November 15th. This represents a $0.92 annualized dividend and a yield of 3.35%. Reynolds Consumer Products's dividend payout ratio is presently 52.57%.

About Reynolds Consumer Products

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.