Quest Partners LLC Trims Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Quest Partners LLC decreased its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 26.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 11,959 shares of the company’s stock after selling 4,231 shares during the period. Quest Partners LLC’s holdings in Reynolds Consumer Products were worth $372,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Reynolds Consumer Products by 0.5% in the first quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock valued at $161,739,000 after acquiring an additional 29,838 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Reynolds Consumer Products by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,168 shares of the company’s stock valued at $348,000 after purchasing an additional 1,726 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Reynolds Consumer Products during the 1st quarter valued at $252,000. Tidal Investments LLC increased its holdings in shares of Reynolds Consumer Products by 83.7% in the first quarter. Tidal Investments LLC now owns 29,060 shares of the company’s stock worth $830,000 after purchasing an additional 13,237 shares during the period. Finally, Keynote Financial Services LLC purchased a new stake in shares of Reynolds Consumer Products in the first quarter worth $439,000. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Trading Up 0.5 %

Shares of REYN opened at $27.76 on Monday. Reynolds Consumer Products Inc. has a fifty-two week low of $25.81 and a fifty-two week high of $32.65. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 15.86 and a beta of 0.50. The firm has a 50 day moving average price of $29.36 and a 200-day moving average price of $29.11. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The business had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.23 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.31%. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 52.57%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank of Canada upped their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Canaccord Genuity Group lifted their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Barclays cut their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Jefferies Financial Group assumed 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 objective on the stock. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus price target of $32.17.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Helen Golding bought 1,190 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the purchase, the director now directly owns 1,190 shares of the company’s stock, valued at $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Rolf Stangl acquired 7,207 shares of the company’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $27.25 per share, with a total value of $196,390.75. Following the acquisition, the director now owns 7,207 shares in the company, valued at approximately $196,390.75. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

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.