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

Quest Partners LLC lowered its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 26.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,959 shares of the company’s stock after selling 4,231 shares during the quarter. Quest Partners LLC’s holdings in Reynolds Consumer Products were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of REYN. GAMMA Investing LLC lifted 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 acquiring an additional 801 shares during the period. Versant Capital Management Inc bought a new position in Reynolds Consumer Products during the second quarter valued at approximately $39,000. Abich Financial Wealth Management LLC bought a new position in Reynolds Consumer Products during the second quarter valued at approximately $54,000. Capital Performance Advisors LLP purchased a new stake in Reynolds Consumer Products in the third quarter worth approximately $70,000. Finally, Venturi Wealth Management LLC grew its position in Reynolds Consumer Products by 93.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock worth $80,000 after purchasing an additional 1,239 shares during the period. 26.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on REYN. Canaccord Genuity Group raised their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. 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 target price on the stock. JPMorgan Chase & Co. increased 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 note on Thursday, August 8th. Barclays dropped their price objective 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 upped 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 report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.17.

Insider Activity

In other Reynolds Consumer Products news, Director Helen Golding bought 1,190 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average price of $27.58 per share, with a total value of $32,820.20. Following the purchase, the director now 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 document filed with the SEC, which is available through this hyperlink. Also, Director Rolf Stangl purchased 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 completion of the purchase, the director now directly owns 7,207 shares in the company, valued at $196,390.75. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Reynolds Consumer Products Trading Up 0.5 %

Reynolds Consumer Products stock opened at $27.76 on Monday. 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 $25.81 and a 12-month high of $32.65. The firm has a market capitalization 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 of $29.36 and a 200 day moving average of $29.11.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data 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 return on equity of 18.27% and a net margin of 10.03%. The firm had revenue of $910.00 million during the quarter, compared to analysts’ expectations of $902.88 million. During the same period last year, the company earned $0.37 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, research analysts predict that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend 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 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.