Fmr LLC Sells 10,047 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Fmr LLC reduced its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 28.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,720 shares of the company’s stock after selling 10,047 shares during the period. Fmr LLC’s holdings in Reynolds Consumer Products were worth $800,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of REYN. Abich Financial Wealth Management LLC acquired a new position in Reynolds Consumer Products during the 2nd quarter valued at about $54,000. Capital Performance Advisors LLP purchased a new position in shares of Reynolds Consumer Products in the 3rd quarter valued at approximately $70,000. Venturi Wealth Management LLC boosted its stake 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 in the last quarter. International Assets Investment Management LLC grew its position in Reynolds Consumer Products by 3,009.9% during the 3rd quarter. International Assets Investment Management LLC now owns 2,830 shares of the company’s stock worth $91,000 after purchasing an additional 2,739 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in Reynolds Consumer Products during the 2nd quarter valued at approximately $90,000. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Trading Down 0.4 %

NASDAQ REYN opened at $27.91 on Wednesday. Reynolds Consumer Products Inc. has a 1 year low of $26.27 and a 1 year high of $32.65. 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 company has a market capitalization of $5.87 billion, a PE ratio of 15.95 and a beta of 0.50. The company has a fifty day moving average of $28.36 and a 200 day moving average of $29.00.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $910.00 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. Research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is 52.57%.

Analyst Ratings Changes

Several research firms have recently commented on REYN. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They set a “buy” rating and a $38.00 price objective for the company. Barclays dropped their price target on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.17.

Insider Activity at Reynolds Consumer Products

In other news, Director Helen Golding acquired 1,190 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was acquired at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the transaction, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rolf Stangl bought 7,207 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 7,207 shares in the company, valued at approximately $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 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.