Geode Capital Management LLC Increases Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Geode Capital Management LLC raised its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,045,758 shares of the company’s stock after purchasing an additional 2,127 shares during the period. Geode Capital Management LLC owned 0.50% of Reynolds Consumer Products worth $32,531,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in REYN. Abich Financial Wealth Management LLC boosted its position in shares of Reynolds Consumer Products by 21.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock valued at $73,000 after acquiring an additional 414 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Reynolds Consumer Products by 4.7% in the second quarter. Crossmark Global Holdings Inc. now owns 12,181 shares of the company’s stock valued at $341,000 after purchasing an additional 550 shares in the last quarter. Covestor Ltd lifted its position in Reynolds Consumer Products by 14.8% during the third quarter. Covestor Ltd now owns 4,564 shares of the company’s stock valued at $142,000 after purchasing an additional 588 shares during the last quarter. Signaturefd LLC grew its stake in Reynolds Consumer Products by 13.0% in the 2nd quarter. Signaturefd LLC now owns 5,287 shares of the company’s stock worth $148,000 after buying an additional 608 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings in shares of Reynolds Consumer Products by 1.3% in the 3rd quarter. MML Investors Services LLC now owns 48,700 shares of the company’s stock worth $1,515,000 after buying an additional 641 shares during the last quarter. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Reynolds Consumer Products Stock Up 0.3 %

Shares of NASDAQ:REYN opened at $27.26 on Thursday. The stock has a market capitalization of $5.73 billion, a P/E ratio of 15.58 and a beta of 0.50. The stock’s 50-day moving average price is $28.03 and its 200-day moving average price is $28.96. 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 $26.50 and a 12-month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The company had revenue of $910.00 million during the quarter, compared to analysts’ expectations of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. Reynolds Consumer Products’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. On average, equities analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is 52.57%.

Insider Transactions at Reynolds Consumer Products

In related 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 cost of $27.58 per share, for a total transaction of $32,820.20. Following the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rolf Stangl bought 3,682 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were bought at an average cost of $27.50 per share, for a total transaction of $101,255.00. Following the purchase, the director now directly owns 10,889 shares in the company, valued at approximately $299,447.50. This represents a 51.09 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 12,079 shares of company stock worth $330,466. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

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

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.