Trajan Wealth LLC Takes Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Trajan Wealth LLC bought a new position in Reynolds Consumer Products Inc. (NASDAQ:REYN) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 6,613 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Reynolds Consumer Products by 510.2% during the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $27,000 after acquiring an additional 801 shares during the last quarter. Versant Capital Management Inc acquired a new stake in Reynolds Consumer Products during the 2nd quarter worth approximately $39,000. Abich Financial Wealth Management LLC purchased a new position in Reynolds Consumer Products in the second quarter valued at approximately $54,000. International Assets Investment Management LLC lifted its position in Reynolds Consumer Products by 3,009.9% during the third quarter. International Assets Investment Management LLC now owns 2,830 shares of the company’s stock valued at $91,000 after buying an additional 2,739 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in Reynolds Consumer Products during the second quarter worth approximately $90,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on REYN. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 target price on the stock. Barclays upped their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. Royal Bank of Canada increased their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group increased their price objective on shares of 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.33.

Reynolds Consumer Products Trading Down 6.2 %

NASDAQ:REYN opened at $27.69 on Thursday. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 17.64 and a beta of 0.48. Reynolds Consumer Products Inc. has a one year low of $25.08 and a one year high of $32.65. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. The business’s 50-day simple moving average is $30.78 and its 200 day simple moving average is $29.22.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. The company had revenue of $930.00 million for the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. Reynolds Consumer Products’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. As a group, sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.7 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.32%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 58.60%.

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.