Clifford Capital Partners LLC Sells 3,514 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Clifford Capital Partners LLC trimmed its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 15.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,697 shares of the company’s stock after selling 3,514 shares during the period. Clifford Capital Partners LLC’s holdings in Reynolds Consumer Products were worth $523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its position in Reynolds Consumer Products by 510.2% during the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after acquiring an additional 801 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Reynolds Consumer Products during the 2nd quarter worth $39,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Reynolds Consumer Products during the 2nd quarter worth approximately $54,000. Parallel Advisors LLC lifted its stake in shares of Reynolds Consumer Products by 26.9% in the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after purchasing an additional 485 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Reynolds Consumer Products during the second quarter valued at about $90,000. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on REYN. JPMorgan Chase & Co. lifted their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Canaccord Genuity Group lifted their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Barclays boosted their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $32.00.

Reynolds Consumer Products Stock Performance

NASDAQ:REYN opened at $30.82 on Wednesday. The firm has a 50-day moving average of $30.48 and a two-hundred day moving average of $29.02. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. The stock has a market cap of $6.48 billion, a P/E ratio of 19.63 and a beta of 0.48. Reynolds Consumer Products Inc. has a 1-year low of $24.80 and a 1-year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $930.00 million during the quarter, compared to analyst estimates of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, research analysts expect that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.92 dividend on an annualized basis and a yield of 2.99%. Reynolds Consumer Products’s dividend payout ratio is currently 58.60%.

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.