Reynolds Consumer Products Inc. (NASDAQ:REYN) Stock Position Decreased by Cannell & Co.

Cannell & Co. lowered its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 9.5% during the second quarter, HoldingsChannel.com reports. The fund owned 11,400 shares of the company’s stock after selling 1,200 shares during the period. Cannell & Co.’s holdings in Reynolds Consumer Products were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. CWM LLC grew its position in Reynolds Consumer Products by 60.2% in the 2nd quarter. CWM LLC now owns 979 shares of the company’s stock worth $28,000 after purchasing an additional 368 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Reynolds Consumer Products in the 1st quarter valued at approximately $32,000. Harbour Investments Inc. raised its stake in Reynolds Consumer Products by 737.5% during the 4th quarter. Harbour Investments Inc. now owns 1,675 shares of the company’s stock valued at $50,000 after acquiring an additional 1,475 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Reynolds Consumer Products in the first quarter worth $70,000. Finally, Point72 Middle East FZE acquired a new position in shares of Reynolds Consumer Products during the fourth quarter valued at $94,000. 27.01% of the stock is owned by institutional investors.

Reynolds Consumer Products Stock Performance

Shares of REYN stock opened at $27.05 on Wednesday. The stock’s fifty day simple moving average is $25.77 and its 200-day simple moving average is $27.11. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 21.13 and a beta of 0.48. The company has a current ratio of 2.37, a quick ratio of 1.13 and a debt-to-equity ratio of 1.05. Reynolds Consumer Products Inc. has a 1-year low of $24.80 and a 1-year high of $32.50.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, November 8th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $935.00 million for the quarter, compared to the consensus estimate of $932.38 million. Reynolds Consumer Products had a return on equity of 14.62% and a net margin of 7.02%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. On average, sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.38 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Wednesday, November 15th. Reynolds Consumer Products’s dividend payout ratio is currently 71.88%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on REYN shares. JPMorgan Chase & Co. lowered their price objective on shares of Reynolds Consumer Products from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 12th. Barclays cut their price objective on Reynolds Consumer Products from $28.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, October 12th. The Goldman Sachs Group raised Reynolds Consumer Products from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $28.00 to $30.00 in a research note on Monday, October 2nd. Finally, Stifel Nicolaus cut their target price on Reynolds Consumer Products from $30.00 to $27.50 and set a “hold” rating on the stock in a research report on Monday, October 16th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.69.

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