SG Americas Securities LLC lowered its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN – Free Report) by 88.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,168 shares of the company’s stock after selling 1,289,506 shares during the period. SG Americas Securities LLC’s holdings in Reynolds Consumer Products were worth $3,710,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fieldview Capital Management LLC purchased a new position in Reynolds Consumer Products in the 3rd quarter worth about $1,436,000. Jackson Creek Investment Advisors LLC purchased a new stake in Reynolds Consumer Products during the fourth quarter valued at about $1,730,000. Vanguard Group Inc. lifted its stake in Reynolds Consumer Products by 4.8% during the third quarter. Vanguard Group Inc. now owns 6,197,729 shares of the company’s stock valued at $151,658,000 after buying an additional 284,643 shares in the last quarter. Kettle Hill Capital Management LLC purchased a new stake in Reynolds Consumer Products during the third quarter valued at about $1,150,000. Finally, Clifford Capital Partners LLC boosted its holdings in shares of Reynolds Consumer Products by 16.3% in the third quarter. Clifford Capital Partners LLC now owns 823,446 shares of the company’s stock worth $20,150,000 after buying an additional 115,593 shares during the period. 26.81% of the stock is currently owned by institutional investors.
Reynolds Consumer Products Stock Performance
Shares of REYN opened at $27.12 on Tuesday. The company’s 50 day moving average price is $22.40 and its 200 day moving average price is $22.74. Reynolds Consumer Products Inc. has a 52 week low of $20.44 and a 52 week high of $27.13. The company has a market capitalization of $5.72 billion, a PE ratio of 17.27 and a beta of 0.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 1.79.
Reynolds Consumer Products Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, May 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 58.60%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on REYN. JPMorgan Chase & Co. dropped their target price on shares of Reynolds Consumer Products from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Friday, April 17th. UBS Group decreased their price objective on shares of Reynolds Consumer Products from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Weiss Ratings cut shares of Reynolds Consumer Products from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, June 12th. Royal Bank Of Canada set a $24.00 target price on shares of Reynolds Consumer Products and gave the company a “sector perform” rating in a research note on Thursday, April 9th. Finally, Barclays reduced their target price on Reynolds Consumer Products from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, April 14th. Seven investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.60.
Get Our Latest Report on Reynolds Consumer Products
Reynolds Consumer Products Company Profile
Reynolds Consumer Products, Inc (NASDAQ: REYN) is a leading North American manufacturer and marketer of household consumer products. The company specializes in food storage and cooking solutions, including aluminum foil, plastic wrap, food storage containers and disposable tableware. Its core portfolio features well-known brands such as Reynolds Wrap aluminum foil, Hefty storage containers and trash bags, and Fastfold paper plates.
The company operates through a network of manufacturing and distribution facilities across North America, Latin America, Europe and the Asia Pacific region.
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