Northwest Investment Counselors LLC Trims Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Northwest Investment Counselors LLC lowered its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 10.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,950 shares of the company’s stock after selling 1,855 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Reynolds Consumer Products were worth $456,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in Reynolds Consumer Products by 97.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock valued at $52,000 after buying an additional 960 shares during the period. Principal Securities Inc. purchased a new position in shares of Reynolds Consumer Products during the fourth quarter worth $61,000. Parallel Advisors LLC grew its stake in shares of Reynolds Consumer Products by 26.9% in the fourth quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after buying an additional 485 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Reynolds Consumer Products by 467.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock valued at $66,000 after buying an additional 2,012 shares during the period. Finally, Signaturefd LLC lifted its stake in Reynolds Consumer Products by 120.8% during the 4th quarter. Signaturefd LLC now owns 4,106 shares of the company’s stock worth $110,000 after acquiring an additional 2,246 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Up 0.5 %

Shares of Reynolds Consumer Products stock traded up $0.13 during trading on Monday, hitting $28.75. 81,004 shares of the stock were exchanged, compared to its average volume of 547,679. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.11 and a quick ratio of 1.01. The firm’s 50-day moving average price is $28.50 and its 200 day moving average price is $28.13. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 18.23 and a beta of 0.48. 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 announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. The company had revenue of $833.00 million during the quarter, compared to the consensus estimate of $814.92 million. During the same period in the previous year, the business earned $0.08 EPS. Reynolds Consumer Products’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts forecast that Reynolds Consumer Products Inc. will post 1.67 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.20%. Reynolds Consumer Products’s payout ratio is currently 58.60%.

Wall Street Analyst Weigh In

REYN has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price target on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Canaccord Genuity Group increased their target price on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. Stifel Nicolaus restated a “hold” rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Finally, Barclays upped their price objective on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.00.

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.