Stifel Financial Corp Raises Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Stifel Financial Corp boosted its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 103.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,229 shares of the company's stock after buying an additional 47,337 shares during the period. Stifel Financial Corp's holdings in Reynolds Consumer Products were worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in REYN. Sei Investments Co. lifted its stake in shares of Reynolds Consumer Products by 18.5% during the second quarter. Sei Investments Co. now owns 612,775 shares of the company's stock worth $17,146,000 after buying an additional 95,469 shares during the period. ARGA Investment Management LP acquired a new stake in Reynolds Consumer Products during the 3rd quarter worth about $751,000. Bank of New York Mellon Corp lifted its position in Reynolds Consumer Products by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company's stock worth $28,166,000 after acquiring an additional 66,826 shares during the period. Pacer Advisors Inc. grew its stake in Reynolds Consumer Products by 48.6% during the 2nd quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company's stock valued at $108,845,000 after purchasing an additional 1,272,353 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Reynolds Consumer Products by 62.5% in the second quarter. Acadian Asset Management LLC now owns 345,696 shares of the company's stock valued at $9,662,000 after purchasing an additional 133,002 shares during the period. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays decreased their target price on Reynolds Consumer Products from $29.00 to $28.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Jefferies Financial Group began coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a "buy" rating and a $38.00 price objective on the stock. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $32.17.

Insider Activity at Reynolds Consumer Products

In related news, Director Helen Golding acquired 1,190 shares of the firm's stock in a transaction on Thursday, November 14th. The shares were acquired at an average cost 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rolf Stangl bought 7,207 shares of the company's stock in a transaction dated Friday, November 1st. The stock was bought 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 of the company's stock, valued at approximately $196,390.75. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company insiders.

Reynolds Consumer Products Stock Performance

NASDAQ:REYN traded down $0.52 during trading hours on Wednesday, reaching $27.39. The company had a trading volume of 393,762 shares, compared to its average volume of 572,167. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. Reynolds Consumer Products Inc. has a 1-year low of $26.27 and a 1-year high of $32.65. The business's 50 day moving average price is $28.31 and its 200-day moving average price is $28.99. The firm has a market cap of $5.76 billion, a PE ratio of 15.65 and a beta of 0.50.

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

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Friday, November 15th. Reynolds Consumer Products's dividend payout ratio (DPR) 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.