Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Acquired by Point72 DIFC Ltd

Point72 DIFC Ltd increased its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 110.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,657 shares of the company’s stock after acquiring an additional 10,823 shares during the quarter. Point72 DIFC Ltd’s holdings in Reynolds Consumer Products were worth $642,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Reynolds Consumer Products by 1.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 12,925,469 shares of the company’s stock worth $401,982,000 after purchasing an additional 137,083 shares during the last quarter. 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 worth $108,845,000 after buying an additional 1,272,353 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Reynolds Consumer Products by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock worth $49,859,000 after buying an additional 261,513 shares during the period. AQR Capital Management LLC lifted its stake in Reynolds Consumer Products by 122.7% in the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock valued at $43,588,000 after buying an additional 858,419 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Reynolds Consumer Products by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company’s stock valued at $28,166,000 after buying an additional 66,826 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Reynolds Consumer Products

In related news, Director Helen Golding purchased 1,190 shares of Reynolds Consumer Products stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the transaction, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rolf Stangl purchased 7,207 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the acquisition, the director now owns 7,207 shares in the company, 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. Company insiders own 0.20% of the company’s stock.

Reynolds Consumer Products Price Performance

Shares of REYN opened at $27.76 on Friday. The firm has a market capitalization of $5.83 billion, a PE ratio of 15.86 and a beta of 0.50. The stock’s 50 day moving average is $28.72 and its two-hundred day moving average is $29.02. Reynolds Consumer Products Inc. has a twelve month low of $26.16 and a twelve month high of $32.65. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

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

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.31%. Reynolds Consumer Products’s dividend payout ratio is presently 52.57%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on REYN shares. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 target price on the stock. Royal Bank of Canada upped their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Canaccord Genuity Group raised their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Barclays lowered their target price on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Reynolds Consumer Products currently has an average rating of “Hold” and an average price target of $32.17.

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.