Geode Capital Management LLC Grows Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Geode Capital Management LLC increased its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 0.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,045,758 shares of the company’s stock after purchasing an additional 2,127 shares during the period. Geode Capital Management LLC’s holdings in Reynolds Consumer Products were worth $32,531,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Reynolds Consumer Products in the 3rd quarter worth about $29,000. Abich Financial Wealth Management LLC bought a new stake in Reynolds Consumer Products during the second quarter worth about $54,000. Capital Performance Advisors LLP purchased a new stake in Reynolds Consumer Products in the third quarter worth about $70,000. Venturi Wealth Management LLC increased its stake in shares of Reynolds Consumer Products by 93.7% during the third quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock valued at $80,000 after purchasing an additional 1,239 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Reynolds Consumer Products during the second quarter valued at approximately $90,000. Institutional investors own 26.81% of the company’s stock.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 7,207 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the transaction, the director now owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Helen Golding acquired 1,190 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $27.58 per share, with a total value of $32,820.20. Following the transaction, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 12,079 shares of company stock worth $330,466. 0.20% of the stock is owned by insiders.

Reynolds Consumer Products Stock Up 0.3 %

Reynolds Consumer Products stock opened at $27.26 on Thursday. Reynolds Consumer Products Inc. has a 12 month low of $26.50 and a 12 month high of $32.65. The stock has a fifty day simple moving average of $28.03 and a two-hundred day simple moving average of $28.96. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 15.58 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share 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 company had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Friday, November 15th. Reynolds Consumer Products’s payout ratio is currently 52.57%.

Analysts Set New Price Targets

A number of research firms recently weighed in on REYN. Barclays reduced their price objective on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Jefferies Financial Group started coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.17.

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.