Reynolds Consumer Products Inc. (NASDAQ:REYN) Holdings Cut by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,397 shares of the company’s stock after selling 490 shares during the period. Sanctuary Advisors LLC’s holdings in Reynolds Consumer Products were worth $386,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of REYN. True Wealth Design LLC purchased a new position in Reynolds Consumer Products in the third quarter valued at about $29,000. Abich Financial Wealth Management LLC acquired a new position in shares of Reynolds Consumer Products during the 2nd quarter worth $54,000. Capital Performance Advisors LLP bought a new position in shares of Reynolds Consumer Products during the 3rd quarter valued at $70,000. Venturi Wealth Management LLC lifted its stake in shares of Reynolds Consumer Products by 93.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock valued at $80,000 after purchasing an additional 1,239 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Reynolds Consumer Products by 3,009.9% in the third 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 in the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Reynolds Consumer Products Stock Up 0.4 %

REYN stock opened at $27.36 on Friday. 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 50-day moving average of $27.97 and a two-hundred day moving average of $28.95. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 15.63 and a beta of 0.50. Reynolds Consumer Products Inc. has a 52-week low of $26.50 and a 52-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). The business had revenue of $910.00 million for 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%. Reynolds Consumer Products’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 EPS. As a group, equities research analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 EPS for the current 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. This represents a $0.92 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 52.57%.

Analysts Set New Price Targets

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

Insider Activity at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 7,207 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the purchase, the director now directly owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Helen Golding purchased 1,190 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the acquisition, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 12,079 shares of company stock worth $330,466 in the last ninety days. 0.20% of the stock is currently owned by insiders.

Reynolds Consumer Products Company 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.