State of Alaska Department of Revenue lowered its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN – Get Rating) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,758 shares of the company’s stock after selling 1,427 shares during the period. State of Alaska Department of Revenue’s holdings in Reynolds Consumer Products were worth $4,383,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Brown Advisory Inc. grew its stake in Reynolds Consumer Products by 4.6% during the first quarter. Brown Advisory Inc. now owns 203,103 shares of the company’s stock valued at $6,047,000 after acquiring an additional 9,006 shares in the last quarter. AdvisorShares Investments LLC lifted its position in Reynolds Consumer Products by 9.2% during the first quarter. AdvisorShares Investments LLC now owns 46,199 shares of the company’s stock valued at $1,355,000 after purchasing an additional 3,895 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Reynolds Consumer Products by 33.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,795,235 shares of the company’s stock valued at $82,012,000 after purchasing an additional 707,622 shares during the last quarter. Eagle Ridge Investment Management lifted its position in Reynolds Consumer Products by 0.7% during the first quarter. Eagle Ridge Investment Management now owns 359,863 shares of the company’s stock valued at $10,558,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Reynolds Consumer Products by 79.1% during the first quarter. Signaturefd LLC now owns 2,027 shares of the company’s stock valued at $59,000 after purchasing an additional 895 shares during the last quarter. Hedge funds and other institutional investors own 28.41% of the company’s stock.
Reynolds Consumer Products Trading Up 0.7 %
Shares of REYN opened at $27.49 on Thursday. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 20.98 and a beta of 0.32. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.80 and a current ratio of 2.21. Reynolds Consumer Products Inc. has a fifty-two week low of $24.54 and a fifty-two week high of $32.29. The firm has a 50 day moving average price of $28.50 and a 200-day moving average price of $28.31.
Reynolds Consumer Products Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.35%. Reynolds Consumer Products’s dividend payout ratio is currently 70.23%.
Analyst Ratings Changes
Several equities research analysts have issued reports on REYN shares. Barclays dropped their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, August 11th. Citigroup dropped their target price on shares of Reynolds Consumer Products from $31.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Reynolds Consumer Products has a consensus rating of “Hold” and a consensus target price of $31.67.
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 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 E-Z Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.
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