Point72 Asset Management L.P. Invests $4.40 Million in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Point72 Asset Management L.P. purchased 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. The fund purchased 141,399 shares of the company's stock, valued at approximately $4,397,000. Point72 Asset Management L.P. owned approximately 0.07% of Reynolds Consumer Products as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew 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. True Wealth Design LLC acquired a new position in Reynolds Consumer Products during the third quarter worth $29,000. Abich Financial Wealth Management LLC acquired a new position in Reynolds Consumer Products during the second quarter worth $54,000. Capital Performance Advisors LLP acquired a new stake in shares of Reynolds Consumer Products in the third quarter valued at about $70,000. Finally, Venturi Wealth Management LLC grew its position in shares of Reynolds Consumer Products by 93.7% in the third quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company's stock valued at $80,000 after purchasing an additional 1,239 shares during the last quarter. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on REYN shares. Barclays lowered their price target on Reynolds Consumer Products from $29.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group started coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a "buy" rating and a $38.00 price target on the stock. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $32.17.

Insider Activity

In related news, Director Helen Golding purchased 1,190 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $27.58 per share, with a total value of $32,820.20. Following the completion of the acquisition, the director now directly owns 1,190 shares in the company, valued at approximately $32,820.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rolf Stangl bought 7,207 shares of the stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $27.25 per share, with a total value of $196,390.75. Following the acquisition, the director now directly owns 7,207 shares in the company, valued at approximately $196,390.75. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by corporate insiders.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ REYN traded up $0.38 during mid-day trading on Monday, hitting $27.81. The company had a trading volume of 297,557 shares, compared to its average volume of 571,758. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. The business's 50-day simple moving average is $28.64 and its 200-day simple moving average is $29.01. Reynolds Consumer Products Inc. has a 12 month low of $26.16 and a 12 month high of $32.65. The firm has a market cap of $5.84 billion, a P/E ratio of 15.89 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). The business had revenue of $910.00 million for the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The firm's revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 EPS. As a group, analysts predict that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, November 15th. Reynolds Consumer Products's dividend payout ratio (DPR) is currently 52.57%.

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.