Versor Investments LP Takes Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Versor Investments LP purchased a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 12,312 shares of the company’s stock, valued at approximately $383,000.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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 during the last quarter. Versant Capital Management Inc acquired a new position in Reynolds Consumer Products during the 2nd quarter valued at about $39,000. Abich Financial Wealth Management LLC acquired a new position in Reynolds Consumer Products during the 2nd quarter valued at about $54,000. Capital Performance Advisors LLP bought a new position in shares of Reynolds Consumer Products during the 3rd quarter worth approximately $70,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Reynolds Consumer Products by 93.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock worth $80,000 after buying an additional 1,239 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl bought 7,207 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $27.25 per share, with a total value of $196,390.75. Following the completion of the purchase, the director now directly owns 7,207 shares in the company, valued at $196,390.75. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. 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 target price on the stock. Canaccord Genuity Group lifted 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 report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Barclays lowered their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price target on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $32.17.

Reynolds Consumer Products Trading Up 0.6 %

NASDAQ:REYN opened at $27.75 on Friday. The firm’s 50 day moving average is $29.99 and its 200 day moving average is $29.15. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Reynolds Consumer Products Inc. has a 12 month low of $25.80 and a 12 month high of $32.65. The stock has a market capitalization of $5.83 billion, a PE ratio of 15.86 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $902.88 million. During the same period in the previous year, the firm earned $0.37 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. Sell-side analysts expect that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.32%. Reynolds Consumer Products’s payout ratio is currently 52.57%.

About Reynolds Consumer Products

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.