Reynolds Consumer Products Inc. (NASDAQ:REYN) Stake Boosted by Eagle Ridge Investment Management

Eagle Ridge Investment Management boosted its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 1.6% in the first quarter, HoldingsChannel.com reports. The firm owned 377,265 shares of the company’s stock after acquiring an additional 5,819 shares during the period. Eagle Ridge Investment Management’s holdings in Reynolds Consumer Products were worth $10,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. KLCM Advisors Inc. boosted its holdings in shares of Reynolds Consumer Products by 112.6% in the 4th quarter. KLCM Advisors Inc. now owns 522,891 shares of the company’s stock valued at $14,034,000 after buying an additional 276,898 shares during the period. Quest Partners LLC bought a new position in shares of Reynolds Consumer Products during the fourth quarter valued at approximately $913,000. Dimensional Fund Advisors LP raised its position in shares of Reynolds Consumer Products by 23.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock worth $31,069,000 after purchasing an additional 218,864 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Reynolds Consumer Products in the 4th quarter worth approximately $1,145,000. Finally, Gallacher Capital Management LLC bought a new stake in shares of Reynolds Consumer Products in the 4th quarter worth approximately $259,000. Institutional investors own 26.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Stifel Nicolaus restated a “hold” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $31.00 target price on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Canaccord Genuity Group raised their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. Finally, Barclays boosted their price objective on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of “Hold” and an average target price of $30.00.

Reynolds Consumer Products Price Performance

NASDAQ:REYN traded down $0.03 during midday trading on Tuesday, hitting $27.55. 526,778 shares of the stock were exchanged, compared to its average volume of 549,656. The business has a 50-day moving average price of $28.53 and a two-hundred day moving average price of $28.20. The company has a current ratio of 2.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 17.57 and a beta of 0.47. Reynolds Consumer Products Inc. has a one year low of $24.80 and a one year high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. The business had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $814.92 million. During the same quarter last year, the business posted $0.08 earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis. Sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.67 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a $0.23 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.92 annualized dividend and a yield of 3.34%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 58.60%.

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.