Versor Investments LP Takes $383,000 Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Versor Investments LP acquired a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) during the third quarter, Holdings Channel reports. The fund acquired 12,312 shares of the company’s stock, valued at approximately $383,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Reynolds Consumer Products during the first quarter worth about $232,000. Vanguard Group Inc. boosted its holdings in shares of Reynolds Consumer Products by 0.5% during the first quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock worth $161,739,000 after purchasing an additional 29,838 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Reynolds Consumer Products by 994.7% during the first quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock worth $6,068,000 after purchasing an additional 193,265 shares during the period. Covestor Ltd boosted its holdings in shares of Reynolds Consumer Products by 15.8% during the first quarter. Covestor Ltd now owns 3,520 shares of the company’s stock worth $101,000 after purchasing an additional 480 shares during the period. Finally, Ariel Investments LLC boosted its holdings in shares of Reynolds Consumer Products by 7.0% during the first quarter. Ariel Investments LLC now owns 7,136 shares of the company’s stock worth $204,000 after purchasing an additional 466 shares during the period. 26.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on REYN. JPMorgan Chase & Co. increased their target price 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 objective on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada raised their price objective 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. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, Canaccord Genuity Group raised their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.17.

Insiders Place Their Bets

In related news, Director Rolf Stangl bought 7,207 shares of the business’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 transaction, 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Reynolds Consumer Products Price Performance

Shares of NASDAQ REYN opened at $27.75 on Friday. Reynolds Consumer Products Inc. has a fifty-two week low of $25.80 and a fifty-two week high of $32.65. The company has a 50 day simple moving average of $29.99 and a two-hundred day simple moving average of $29.15. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 15.86 and a beta of 0.50. 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 announced its quarterly earnings results 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). The firm had revenue of $910.00 million for the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. Reynolds Consumer Products’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the business earned $0.37 EPS. Analysts expect that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 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.