Truist Financial Corp lowered its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN – Get Rating) by 11.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,348 shares of the company’s stock after selling 2,163 shares during the period. Truist Financial Corp’s holdings in Reynolds Consumer Products were worth $425,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Reynolds Consumer Products by 0.5% during the first quarter. Wellington Management Group LLP now owns 72,987 shares of the company’s stock worth $2,141,000 after purchasing an additional 374 shares during the period. Total Clarity Wealth Management Inc. increased its stake in Reynolds Consumer Products by 4.1% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 11,195 shares of the company’s stock worth $305,000 after acquiring an additional 442 shares during the period. Janney Montgomery Scott LLC increased its stake in Reynolds Consumer Products by 5.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 15,685 shares of the company’s stock worth $419,000 after acquiring an additional 813 shares during the period. Commonwealth Equity Services LLC increased its stake in Reynolds Consumer Products by 1.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 51,409 shares of the company’s stock worth $1,401,000 after acquiring an additional 837 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in Reynolds Consumer Products by 143.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,436 shares of the company’s stock worth $39,000 after acquiring an additional 846 shares during the period. Institutional investors own 29.91% of the company’s stock.
Analyst Upgrades and Downgrades
REYN has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on Reynolds Consumer Products from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 13th. TheStreet upgraded Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Friday, December 2nd. Credit Suisse Group lowered Reynolds Consumer Products from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $33.00 to $32.00 in a research note on Tuesday, January 17th. Barclays raised their price objective on Reynolds Consumer Products to $27.00 in a research note on Tuesday, November 15th. Finally, Royal Bank of Canada downgraded Reynolds Consumer Products from an “outperform” rating to a “sector perform” rating and set a $30.00 target price on the stock. in a report on Tuesday, January 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.50.
Reynolds Consumer Products Trading Up 0.2 %
Reynolds Consumer Products (NASDAQ:REYN – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Reynolds Consumer Products had a return on equity of 14.99% and a net margin of 6.90%. The company had revenue of $967.00 million for the quarter, compared to the consensus estimate of $981.34 million. As a group, sell-side analysts expect that Reynolds Consumer Products Inc. will post 1.33 EPS for the current fiscal year.
Reynolds Consumer Products Announces Dividend
The business also recently announced 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. This represents a $0.92 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Tuesday, November 15th. Reynolds Consumer Products’s payout ratio is presently 74.80%.
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 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.
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