Gallacher Capital Management LLC Purchases New Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Gallacher Capital Management LLC bought a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) in the fourth quarter, HoldingsChannel.com reports. The firm bought 9,648 shares of the company’s stock, valued at approximately $259,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Victory Capital Management Inc. grew its position in shares of Reynolds Consumer Products by 21.7% in the fourth quarter. Victory Capital Management Inc. now owns 14,684 shares of the company’s stock valued at $394,000 after purchasing an additional 2,619 shares in the last quarter. Signaturefd LLC increased its position in shares of Reynolds Consumer Products by 120.8% during the fourth quarter. Signaturefd LLC now owns 4,106 shares of the company’s stock worth $110,000 after purchasing an additional 2,246 shares in the last quarter. KLCM Advisors Inc. increased its position in 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 acquiring an additional 276,898 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Reynolds Consumer Products by 14.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,665 shares of the company’s stock valued at $394,000 after acquiring an additional 1,864 shares during the period. Finally, Cornercap Investment Counsel Inc. increased its position in Reynolds Consumer Products by 2.5% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 17,225 shares of the company’s stock worth $462,000 after purchasing an additional 416 shares during the period. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

REYN stock traded down $0.06 during trading hours on Monday, reaching $28.41. The stock had a trading volume of 367,172 shares, compared to its average volume of 576,445. The stock has a market capitalization of $5.97 billion, a PE ratio of 20.05 and a beta of 0.48. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.18 and a quick ratio of 1.08. The stock has a 50-day simple moving average of $28.63 and a 200 day simple moving average of $27.53. Reynolds Consumer Products Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. Analysts predict that Reynolds Consumer Products Inc. will post 1.61 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.92 annualized dividend and a yield of 3.24%. Reynolds Consumer Products’s payout ratio is currently 64.79%.

Analyst Upgrades and Downgrades

REYN has been the subject of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. TheStreet raised shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $30.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. JPMorgan Chase & Co. lifted their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, Barclays lifted their price target on Reynolds Consumer Products from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Reynolds Consumer Products presently has an average rating of “Hold” and an average target price of $29.80.

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.