Isthmus Partners LLC Reduces Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Isthmus Partners LLC lowered its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 22.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,774 shares of the company’s stock after selling 24,826 shares during the period. Isthmus Partners LLC’s holdings in Reynolds Consumer Products were worth $2,699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in REYN. Pacer Advisors Inc. grew its position in Reynolds Consumer Products by 48.6% in the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock worth $108,845,000 after acquiring an additional 1,272,353 shares in the last quarter. AQR Capital Management LLC grew its position in Reynolds Consumer Products by 122.7% in the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock worth $43,588,000 after acquiring an additional 858,419 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Reynolds Consumer Products by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock worth $49,859,000 after acquiring an additional 261,513 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. purchased a new position in Reynolds Consumer Products in the third quarter worth about $5,731,000. Finally, American Century Companies Inc. grew its position in Reynolds Consumer Products by 188.8% in the second quarter. American Century Companies Inc. now owns 280,137 shares of the company’s stock worth $7,838,000 after acquiring an additional 183,125 shares in the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl bought 7,207 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $27.25 per share, with a total value of $196,390.75. Following the transaction, the director now directly owns 7,207 shares in the company, valued at approximately $196,390.75. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Helen Golding bought 1,190 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the transaction, the director now owns 1,190 shares in the company, valued at $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ:REYN opened at $27.64 on Friday. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 15.79 and a beta of 0.50. Reynolds Consumer Products Inc. has a 52 week low of $25.81 and a 52 week high of $32.65. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. The firm has a 50 day moving average of $29.06 and a 200 day moving average of $29.07.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.37 EPS. On average, sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s payout ratio is presently 52.57%.

Analyst Ratings Changes

Several brokerages have issued reports on REYN. Jefferies Financial Group began coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Barclays dropped their target price on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Royal Bank of Canada boosted their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group boosted their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Reynolds Consumer Products has a consensus rating of “Hold” and a consensus price target of $32.17.

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.