Cornercap Investment Counsel Inc. Increases Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Cornercap Investment Counsel Inc. grew its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,225 shares of the company’s stock after buying an additional 416 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Reynolds Consumer Products were worth $462,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of Reynolds Consumer Products by 0.5% in the 1st quarter. Wellington Management Group LLP now owns 72,987 shares of the company’s stock valued at $2,141,000 after buying an additional 374 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Reynolds Consumer Products by 7.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,430 shares of the company’s stock worth $232,000 after purchasing an additional 561 shares during the last quarter. Barclays PLC lifted its stake in Reynolds Consumer Products by 2.3% during the third quarter. Barclays PLC now owns 27,586 shares of the company’s stock worth $707,000 after purchasing an additional 632 shares during the last quarter. Ariel Investments LLC lifted its stake in Reynolds Consumer Products by 11.8% during the third quarter. Ariel Investments LLC now owns 6,243 shares of the company’s stock worth $160,000 after purchasing an additional 659 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Reynolds Consumer Products by 2.4% during the third quarter. Public Employees Retirement System of Ohio now owns 28,608 shares of the company’s stock worth $744,000 after purchasing an additional 662 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Analyst Upgrades and Downgrades

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

Reynolds Consumer Products Trading Down 0.4 %

NASDAQ:REYN opened at $28.06 on Thursday. The firm has a market cap of $5.90 billion, a P/E ratio of 19.76 and a beta of 0.49. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.92. The stock’s 50 day simple moving average is $28.71 and its 200-day simple moving average is $27.26. Reynolds Consumer Products Inc. has a 12-month low of $24.80 and a 12-month high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Equities analysts anticipate that Reynolds Consumer Products Inc. will post 1.61 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend was Wednesday, February 14th. Reynolds Consumer Products’s payout ratio is currently 64.79%.

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.