Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,266 shares of the company’s stock after selling 1,564 shares during the quarter. SG Americas Securities LLC’s holdings in Reynolds Consumer Products were worth $724,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Reynolds Consumer Products by 0.5% in the first quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock valued at $161,739,000 after purchasing an additional 29,838 shares during the period. Acadian Asset Management LLC increased its stake in Reynolds Consumer Products by 994.7% in the 1st quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock valued at $6,068,000 after buying an additional 193,265 shares during the period. Bank of New York Mellon Corp raised its position in Reynolds Consumer Products by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company’s stock worth $28,166,000 after buying an additional 66,826 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Reynolds Consumer Products by 18.5% in the 2nd quarter. Sei Investments Co. now owns 612,775 shares of the company’s stock worth $17,146,000 after acquiring an additional 95,469 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings 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 valued at $108,845,000 after acquiring an additional 1,272,353 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Analysts Set New Price Targets

REYN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Jefferies Financial Group assumed coverage on Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target on the stock. Canaccord Genuity Group increased their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Barclays boosted their price objective 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. Finally, Royal Bank of Canada increased 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.33.

Reynolds Consumer Products Trading Up 0.8 %

Shares of REYN opened at $30.04 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. Reynolds Consumer Products Inc. has a 1-year low of $24.80 and a 1-year high of $32.65. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 19.13 and a beta of 0.48. The firm has a 50 day simple moving average of $30.79 and a 200-day simple moving average of $29.10.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $890.71 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share. Equities analysts forecast that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.23 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.92 annualized dividend and a yield of 3.06%. Reynolds Consumer Products’s payout ratio is currently 58.60%.

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.