Signaturefd LLC Reduces Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Signaturefd LLC lessened its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 19.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,485 shares of the company’s stock after selling 840 shares during the quarter. Signaturefd LLC’s holdings in Reynolds Consumer Products were worth $94,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Reynolds Consumer Products by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 16,963 shares of the company’s stock worth $528,000 after buying an additional 1,351 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Reynolds Consumer Products by 22.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 70,255 shares of the company’s stock worth $2,185,000 after acquiring an additional 12,798 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Reynolds Consumer Products by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 572,862 shares of the company’s stock valued at $17,816,000 after purchasing an additional 6,065 shares in the last quarter. Cerity Partners LLC grew its position in shares of Reynolds Consumer Products by 6.9% in the third quarter. Cerity Partners LLC now owns 22,682 shares of the company’s stock valued at $705,000 after purchasing an additional 1,457 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Reynolds Consumer Products during the 3rd quarter worth about $851,000. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

NASDAQ REYN opened at $23.67 on Monday. Reynolds Consumer Products Inc. has a 52-week low of $23.13 and a 52-week high of $32.65. The company has a fifty day moving average of $25.30 and a 200-day moving average of $27.57. The company has a market capitalization of $4.98 billion, a P/E ratio of 14.09 and a beta of 0.56. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. As a group, equities research analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Friday, February 14th. Reynolds Consumer Products’s payout ratio is currently 54.76%.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl bought 6,000 shares of Reynolds Consumer Products stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $24.89 per share, with a total value of $149,340.00. Following the acquisition, the director now owns 16,889 shares in the company, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on REYN. Canaccord Genuity Group decreased their price target on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. decreased their target price on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Evercore ISI reduced their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Finally, UBS Group lowered their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.38.

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.