Signaturefd LLC Has $135,000 Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Signaturefd LLC decreased its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 18.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,325 shares of the company’s stock after selling 962 shares during the period. Signaturefd LLC’s holdings in Reynolds Consumer Products were worth $135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in Reynolds Consumer Products by 1.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,925,469 shares of the company’s stock worth $401,982,000 after purchasing an additional 137,083 shares during the period. Kapitalo Investimentos Ltda bought a new position in Reynolds Consumer Products in the third quarter worth $212,000. Creative Planning lifted its position in Reynolds Consumer Products by 14.8% in the third quarter. Creative Planning now owns 17,106 shares of the company’s stock worth $532,000 after purchasing an additional 2,204 shares during the period. CWM LLC lifted its position in Reynolds Consumer Products by 45.5% in the third quarter. CWM LLC now owns 32,088 shares of the company’s stock worth $998,000 after purchasing an additional 10,038 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Reynolds Consumer Products by 68.9% during the third quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock valued at $709,000 after acquiring an additional 9,300 shares during the period. 26.81% of the stock is owned by institutional investors.

Reynolds Consumer Products Price Performance

REYN stock opened at $29.81 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. Reynolds Consumer Products Inc. has a 1 year low of $25.07 and a 1 year high of $32.65. The company has a 50 day simple moving average of $30.86 and a 200 day simple moving average of $29.22. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 17.43 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The firm had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $890.71 million. During the same period in the prior year, the company posted $0.32 EPS. The company’s revenue was down 1.1% on a year-over-year basis. Research analysts anticipate that Reynolds Consumer Products Inc. will post 1.7 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio is currently 53.80%.

Analysts Set New Price Targets

A number of research analysts have issued reports on REYN shares. Royal Bank of Canada lifted their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Barclays raised their price objective on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They set a “buy” rating and a $38.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group raised their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $32.33.

About Reynolds Consumer Products

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.