Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 46.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 198,987 shares of the company’s stock after selling 175,943 shares during the quarter. JPMorgan Chase & Co. owned about 0.09% of Reynolds Consumer Products worth $6,188,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. True Wealth Design LLC purchased a new stake in Reynolds Consumer Products in the 3rd quarter valued at $29,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Reynolds Consumer Products in the second quarter valued at about $54,000. Capital Performance Advisors LLP purchased a new stake in shares of Reynolds Consumer Products in the third quarter valued at about $70,000. Venturi Wealth Management LLC increased its position in Reynolds Consumer Products by 93.7% during the third 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 during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Reynolds Consumer Products by 3,009.9% during 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 during the period. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Insider Buying and Selling

In other Reynolds Consumer Products news, Director Helen Golding bought 1,190 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the purchase, the director now directly owns 1,190 shares in the company, valued at approximately $32,820.20. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through 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 in the company, valued at $196,390.75. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 12,079 shares of company stock valued at $330,466. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays dropped their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.17.

Reynolds Consumer Products Trading Up 0.7 %

Shares of REYN stock opened at $26.54 on Thursday. Reynolds Consumer Products Inc. has a 1-year low of $25.88 and a 1-year high of $32.65. The firm has a market cap of $5.58 billion, a PE ratio of 15.17 and a beta of 0.50. The company has a 50-day moving average of $27.37 and a two-hundred day moving average of $28.79. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89.

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

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.47%. Reynolds Consumer Products’s dividend payout ratio is presently 52.57%.

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.