Holocene Advisors LP Cuts Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Holocene Advisors LP decreased its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 19.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 25,882 shares of the company’s stock after selling 6,160 shares during the period. Holocene Advisors LP’s holdings in Reynolds Consumer Products were worth $805,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Reynolds Consumer Products during the second quarter worth about $695,000. Sei Investments Co. lifted its stake in shares of Reynolds Consumer Products by 18.5% during the 2nd quarter. Sei Investments Co. now owns 612,775 shares of the company’s stock valued at $17,146,000 after buying an additional 95,469 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Reynolds Consumer Products by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company’s stock worth $28,166,000 after buying an additional 66,826 shares during the period. ARGA Investment Management LP purchased a new position in Reynolds Consumer Products in the 3rd quarter valued at approximately $751,000. Finally, Pacer Advisors Inc. raised its holdings in Reynolds Consumer Products by 48.6% during the 2nd quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock valued at $108,845,000 after acquiring an additional 1,272,353 shares during the period. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Price Performance

NASDAQ:REYN opened at $27.43 on Friday. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 15.67 and a beta of 0.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. The stock has a fifty day moving average of $28.64 and a 200 day moving average of $29.01. Reynolds Consumer Products Inc. has a 52-week low of $26.16 and a 52-week high of $32.65.

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 the consensus estimate of $0.42 by ($0.01). The business had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. On average, research analysts expect that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 52.57%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Jefferies Financial Group began coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. Barclays reduced their target price on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $32.17.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Helen Golding purchased 1,190 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the purchase, the director now owns 1,190 shares of the company’s stock, valued at $32,820.20. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rolf Stangl acquired 7,207 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $27.25 per share, with a total value of $196,390.75. Following the purchase, the director now directly owns 7,207 shares in the company, valued at $196,390.75. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by insiders.

About Reynolds Consumer Products

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.