Tidal Investments LLC Lowers Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Tidal Investments LLC lessened its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 10.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,524 shares of the company’s stock after selling 3,119 shares during the period. Tidal Investments LLC’s holdings in Reynolds Consumer Products were worth $825,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. World Investment Advisors LLC bought a new position in Reynolds Consumer Products in the 3rd quarter worth about $538,000. Barclays PLC grew its stake in Reynolds Consumer Products by 173.9% in the third quarter. Barclays PLC now owns 63,121 shares of the company’s stock worth $1,963,000 after purchasing an additional 40,075 shares in the last quarter. MML Investors Services LLC grew its stake in Reynolds Consumer Products by 1.3% in the third quarter. MML Investors Services LLC now owns 48,700 shares of the company’s stock worth $1,515,000 after purchasing an additional 641 shares in the last quarter. XTX Topco Ltd purchased a new position in Reynolds Consumer Products during the 3rd quarter worth $299,000. Finally, Jane Street Group LLC raised its position in Reynolds Consumer Products by 758.9% during the 3rd quarter. Jane Street Group LLC now owns 167,722 shares of the company’s stock valued at $5,216,000 after purchasing an additional 148,194 shares in the last quarter. Institutional investors own 26.81% of the company’s stock.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 7,207 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the purchase, the director now owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Helen Golding acquired 1,190 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the transaction, the director now directly owns 1,190 shares in the company, valued at $32,820.20. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 12,079 shares of company stock valued at $330,466. Corporate insiders own 0.20% of the company’s stock.

Reynolds Consumer Products Trading Up 0.5 %

Shares of NASDAQ REYN opened at $27.61 on Friday. The business has a fifty day moving average price of $28.22 and a 200 day moving average price of $28.97. Reynolds Consumer Products Inc. has a 1-year low of $26.45 and a 1-year high of $32.65. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. The stock has a market capitalization of $5.80 billion, a P/E ratio of 15.78 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The firm had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. During the same period in the previous year, the company posted $0.37 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts expect that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio is currently 52.57%.

Analysts Set New Price Targets

Several equities analysts have recently commented on REYN shares. Jefferies Financial Group initiated coverage on Reynolds Consumer Products in a research note on Thursday, August 29th. They set a “buy” rating and a $38.00 price target on the stock. Barclays cut their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.