Captrust Financial Advisors Cuts Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Captrust Financial Advisors cut its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 20.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,524 shares of the company’s stock after selling 1,898 shares during the quarter. Captrust Financial Advisors’ holdings in Reynolds Consumer Products were worth $234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Reynolds Consumer Products in the second quarter valued at approximately $695,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Reynolds Consumer Products in the 2nd quarter worth about $357,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Reynolds Consumer Products by 45.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,784 shares of the company’s stock worth $330,000 after purchasing an additional 3,677 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Reynolds Consumer Products by 2.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 63,905 shares of the company’s stock worth $1,788,000 after purchasing an additional 1,764 shares during the period. Finally, Ceredex Value Advisors LLC raised its holdings in shares of Reynolds Consumer Products by 0.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 347,624 shares of the company’s stock worth $9,727,000 after purchasing an additional 2,000 shares during the period. 26.81% of the stock is owned by institutional investors and hedge funds.

Reynolds Consumer Products Stock Performance

Shares of REYN stock opened at $28.42 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. The firm has a market cap of $5.97 billion, a P/E ratio of 16.24 and a beta of 0.50. The stock’s 50-day moving average is $28.43 and its two-hundred day moving average is $29.01. Reynolds Consumer Products Inc. has a fifty-two week low of $26.26 and a fifty-two week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its 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). 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 quarter in the previous year, the company earned $0.37 EPS. Reynolds Consumer Products’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts predict that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.24%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 52.57%.

Analyst Ratings Changes

A number of brokerages have issued reports on REYN. Jefferies Financial Group assumed 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. Barclays cut their price objective on 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. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.17.

Insider Buying and Selling

In related news, Director Helen Golding acquired 1,190 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the purchase, the director now directly owns 1,190 shares in the company, valued at approximately $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rolf Stangl bought 7,207 shares of Reynolds Consumer Products stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the acquisition, the director now owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by corporate insiders.

Reynolds Consumer Products Profile

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.