Los Angeles Capital Management LLC Purchases 87,183 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Los Angeles Capital Management LLC boosted its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 854.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,381 shares of the company's stock after acquiring an additional 87,183 shares during the period. Los Angeles Capital Management LLC's holdings in Reynolds Consumer Products were worth $3,029,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Covestor Ltd lifted its holdings in shares of Reynolds Consumer Products by 14.8% during the 3rd quarter. Covestor Ltd now owns 4,564 shares of the company's stock worth $142,000 after acquiring an additional 588 shares during the period. Atria Investments Inc raised its position in Reynolds Consumer Products by 16.1% during the third quarter. Atria Investments Inc now owns 11,286 shares of the company's stock valued at $351,000 after purchasing an additional 1,565 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Reynolds Consumer Products during the third quarter worth $70,000. Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of Reynolds Consumer Products in the 3rd quarter valued at $5,731,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Reynolds Consumer Products in the 3rd quarter valued at $2,026,000. 26.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 7,207 shares of the stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the transaction, the director now owns 7,207 shares in the company, valued at $196,390.75. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on REYN shares. 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 research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, August 8th. Canaccord Genuity Group upped their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a "hold" rating in a research 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 target price on the stock. Finally, Royal Bank of Canada upped 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 report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of "Hold" and a consensus price target of $32.17.

Reynolds Consumer Products Stock Performance

NASDAQ REYN traded down $0.05 on Wednesday, hitting $27.58. 618,525 shares of the stock traded hands, compared to its average volume of 573,280. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. The business's fifty day moving average is $30.08 and its two-hundred day moving average is $29.16. Reynolds Consumer Products Inc. has a 12 month low of $25.80 and a 12 month high of $32.65. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 15.86 and a beta of 0.50.

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

Reynolds Consumer Products Dividend Announcement

The business also recently announced 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. This represents a $0.92 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products's dividend payout ratio is currently 52.57%.

Reynolds Consumer Products 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.