Cwm LLC Has $998,000 Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Cwm LLC grew its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 45.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,088 shares of the company’s stock after acquiring an additional 10,038 shares during the quarter. Cwm LLC’s holdings in Reynolds Consumer Products were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Reynolds Consumer Products by 510.2% during the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after purchasing an additional 801 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Reynolds Consumer Products during the second quarter valued at about $39,000. Abich Financial Wealth Management LLC acquired a new position in shares of Reynolds Consumer Products during the second quarter valued at about $54,000. nVerses Capital LLC bought a new stake in shares of Reynolds Consumer Products during the second quarter worth about $90,000. Finally, Covestor Ltd raised its holdings in shares of Reynolds Consumer Products by 15.8% in the 1st quarter. Covestor Ltd now owns 3,520 shares of the company’s stock worth $101,000 after acquiring an additional 480 shares during the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on REYN shares. Barclays lifted their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. Royal Bank of Canada upped their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Canaccord Genuity Group upped their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 price target on the stock. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.33.

Reynolds Consumer Products Stock Performance

NASDAQ REYN opened at $30.46 on Friday. The company has a market capitalization of $6.40 billion, a PE ratio of 19.40 and a beta of 0.48. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. Reynolds Consumer Products Inc. has a 52-week low of $24.85 and a 52-week high of $32.65. The company has a 50-day simple moving average of $30.88 and a 200 day simple moving average of $29.14.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The company had revenue of $930.00 million during the quarter, compared to analyst estimates of $890.71 million. During the same quarter last year, the business posted $0.32 EPS. Reynolds Consumer Products’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, research analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.02%. The ex-dividend date was Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 58.60%.

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.