Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 16.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,973 shares of the company’s stock after selling 1,988 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Reynolds Consumer Products were worth $310,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Reynolds Consumer Products by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,168 shares of the company’s stock valued at $348,000 after purchasing an additional 1,726 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Reynolds Consumer Products by 510.2% during the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $27,000 after acquiring an additional 801 shares during the last quarter. CWM LLC grew its position in shares of Reynolds Consumer Products by 368.6% during the 2nd quarter. CWM LLC now owns 22,050 shares of the company’s stock valued at $617,000 after acquiring an additional 17,344 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Reynolds Consumer Products in the 2nd quarter worth $695,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Reynolds Consumer Products in the 2nd quarter worth $357,000. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Reynolds Consumer Products Trading Down 1.2 %

REYN stock opened at $27.43 on Monday. The firm’s fifty day simple moving average is $28.64 and its two-hundred day simple moving average is $29.01. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 15.67 and a beta of 0.50. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. Reynolds Consumer Products Inc. has a twelve month low of $26.16 and a twelve month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $910.00 million during 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%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. As a group, analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is 52.57%.

Insider Activity

In related news, Director Rolf Stangl acquired 7,207 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $27.25 per share, with a total value of $196,390.75. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Helen Golding bought 1,190 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was bought at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the purchase, the director now directly owns 1,190 shares of the company’s stock, valued at $32,820.20. The trade was 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.

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.