Eagle Ridge Investment Management Has $9.97 Million Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Eagle Ridge Investment Management reduced its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 371,446 shares of the company’s stock after selling 2,151 shares during the quarter. Eagle Ridge Investment Management owned approximately 0.18% of Reynolds Consumer Products worth $9,970,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Cornercap Investment Counsel Inc. raised its position in Reynolds Consumer Products by 2.5% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 17,225 shares of the company’s stock valued at $462,000 after acquiring an additional 416 shares in the last quarter. Barclays PLC raised its position in Reynolds Consumer Products by 2.3% during the third quarter. Barclays PLC now owns 27,586 shares of the company’s stock valued at $707,000 after acquiring an additional 632 shares in the last quarter. Ariel Investments LLC raised its position in Reynolds Consumer Products by 11.8% during the third quarter. Ariel Investments LLC now owns 6,243 shares of the company’s stock valued at $160,000 after acquiring an additional 659 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Reynolds Consumer Products by 10.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,801 shares of the company’s stock valued at $328,000 after acquiring an additional 1,210 shares in the last quarter. Finally, Swiss National Bank raised its position in Reynolds Consumer Products by 1.0% during the third quarter. Swiss National Bank now owns 138,500 shares of the company’s stock valued at $3,550,000 after acquiring an additional 1,400 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Reynolds Consumer Products Price Performance

Shares of NASDAQ:REYN traded up $0.30 on Monday, hitting $28.76. The stock had a trading volume of 253,790 shares, compared to its average volume of 581,231. Reynolds Consumer Products Inc. has a twelve month low of $24.80 and a twelve month high of $30.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.08 and a current ratio of 2.18. The firm’s 50 day moving average price is $28.70 and its 200-day moving average price is $27.42. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 20.08 and a beta of 0.49.

Reynolds Consumer Products (NASDAQ:REYN) last issued 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 business had revenue of $1.01 billion for 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 firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. On average, equities research analysts predict that Reynolds Consumer Products Inc. will post 1.61 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued 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 3.20%. Reynolds Consumer Products’s dividend 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.