Pacer Advisors Inc. Increases Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Pacer Advisors Inc. grew its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 48.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,890,109 shares of the company's stock after purchasing an additional 1,272,353 shares during the period. Pacer Advisors Inc. owned approximately 1.85% of Reynolds Consumer Products worth $108,845,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of Reynolds Consumer Products by 510.2% during the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company's stock valued at $27,000 after acquiring an additional 801 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Reynolds Consumer Products during the 2nd quarter valued at $39,000. Quadrant Capital Group LLC boosted its holdings in shares of Reynolds Consumer Products by 97.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company's stock valued at $52,000 after acquiring an additional 960 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Reynolds Consumer Products during the 4th quarter valued at $61,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Reynolds Consumer Products by 26.9% during the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company's stock valued at $61,000 after acquiring an additional 485 shares in the last quarter. Institutional investors own 26.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on REYN. JPMorgan Chase & Co. raised their price objective on 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 raised their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a "hold" rating in a report on Thursday, August 8th. Jefferies Financial Group started coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They set a "buy" rating and a $38.00 target price on the stock. Barclays boosted their price objective on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada boosted their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a "sector perform" rating in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Reynolds Consumer Products presently has an average rating of "Hold" and an average price target of $32.00.

Reynolds Consumer Products Stock Up 2.7 %

REYN traded up $0.84 during midday trading on Friday, reaching $32.17. 5,252,533 shares of the company were exchanged, compared to its average volume of 557,989. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. The company's fifty day moving average price is $29.93 and its 200 day moving average price is $28.92. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 20.49 and a beta of 0.48. Reynolds Consumer Products Inc. has a one year low of $24.80 and a one year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.02. The firm had revenue of $930.00 million during the quarter, compared to analyst estimates of $890.71 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The company's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS. As a group, analysts expect that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Friday, August 16th. Reynolds Consumer Products's dividend payout ratio is currently 58.60%.

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.