Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYNGet Rating) by 51.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 23,817 shares of the company’s stock after selling 25,725 shares during the quarter. SG Americas Securities LLC’s holdings in Reynolds Consumer Products were worth $619,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Verition Fund Management LLC raised its position in shares of Reynolds Consumer Products by 171.4% in the second quarter. Verition Fund Management LLC now owns 18,521 shares of the company’s stock valued at $505,000 after buying an additional 11,698 shares during the last quarter. Parallel Advisors LLC boosted its stake in Reynolds Consumer Products by 17.9% during the second quarter. Parallel Advisors LLC now owns 7,178 shares of the company’s stock worth $196,000 after buying an additional 1,089 shares during the period. FMR LLC boosted its stake in Reynolds Consumer Products by 17.9% during the second quarter. FMR LLC now owns 6,789,290 shares of the company’s stock worth $185,144,000 after buying an additional 1,033,057 shares during the period. Clifford Capital Partners LLC purchased a new position in Reynolds Consumer Products during the second quarter worth about $381,000. Finally, Richard C. Young & CO. LTD. boosted its stake in Reynolds Consumer Products by 4.1% during the second quarter. Richard C. Young & CO. LTD. now owns 223,565 shares of the company’s stock worth $6,097,000 after buying an additional 8,776 shares during the period. 29.91% of the stock is currently owned by institutional investors and hedge funds.

Reynolds Consumer Products Stock Up 1.1 %

Shares of NASDAQ:REYN opened at $29.12 on Monday. The firm’s 50 day moving average price is $30.74 and its 200 day moving average price is $29.25. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 23.67 and a beta of 0.47. Reynolds Consumer Products Inc. has a fifty-two week low of $24.54 and a fifty-two week high of $32.50. The company has a quick ratio of 0.70, a current ratio of 2.16 and a debt-to-equity ratio of 1.15.

Reynolds Consumer Products (NASDAQ:REYNGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Reynolds Consumer Products had a net margin of 6.90% and a return on equity of 14.99%. The company had revenue of $967.00 million for the quarter, compared to analysts’ expectations of $981.34 million. As a group, equities research analysts predict that Reynolds Consumer Products Inc. will post 1.33 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.16%. Reynolds Consumer Products’s payout ratio is currently 74.80%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on REYN shares. Barclays increased their price target on shares of Reynolds Consumer Products to $27.00 in a research report on Tuesday, November 15th. JPMorgan Chase & Co. increased their price target on shares of Reynolds Consumer Products from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 13th. Credit Suisse Group cut shares of Reynolds Consumer Products from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $33.00 to $32.00 in a research report on Tuesday, January 17th. TheStreet raised shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research report on Friday, December 2nd. Finally, Royal Bank of Canada cut shares of Reynolds Consumer Products from an “outperform” rating to a “sector perform” rating and set a $30.00 price target on the stock. in a research report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $30.50.

Reynolds Consumer Products Profile

(Get Rating)

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 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 E-Z Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.

Further Reading

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Institutional Ownership by Quarter for Reynolds Consumer Products (NASDAQ:REYN)

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