Squarepoint Ops LLC Trims Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Squarepoint Ops LLC lowered its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 78.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,375 shares of the company’s stock after selling 36,857 shares during the quarter. Squarepoint Ops LLC’s holdings in Reynolds Consumer Products were worth $290,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Marshall Wace LLP bought a new stake in shares of Reynolds Consumer Products during the 2nd quarter valued at $612,000. Delap Wealth Advisory LLC bought a new stake in Reynolds Consumer Products during the second quarter valued at about $428,000. Sei Investments Co. lifted its position in shares of Reynolds Consumer Products by 18.5% in the second quarter. Sei Investments Co. now owns 612,775 shares of the company’s stock valued at $17,146,000 after acquiring an additional 95,469 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Reynolds Consumer Products by 48.6% in the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock worth $108,845,000 after acquiring an additional 1,272,353 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of Reynolds Consumer Products in the second quarter worth about $126,000. 26.81% of the stock is currently owned by institutional investors.

Reynolds Consumer Products Trading Up 0.8 %

Shares of REYN opened at $30.04 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. The company has a market cap of $6.31 billion, a P/E ratio of 17.57 and a beta of 0.48. Reynolds Consumer Products Inc. has a twelve month low of $24.80 and a twelve month high of $32.65. The company’s fifty day simple moving average is $30.79 and its 200-day simple moving average is $29.09.

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

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.06%. Reynolds Consumer Products’s dividend payout ratio is currently 53.80%.

Analyst Ratings Changes

REYN has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Barclays boosted their target price on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Royal Bank of Canada raised their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Canaccord Genuity Group boosted their price target 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 Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Reynolds Consumer Products has a consensus rating of “Hold” and a consensus price target of $32.33.

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.