Handelsbanken Fonder AB Sells 400 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Handelsbanken Fonder AB lowered its position in Reynolds Consumer Products Inc. (NASDAQ:REYNGet Rating) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,500 shares of the company’s stock after selling 400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Reynolds Consumer Products were worth $351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its position in Reynolds Consumer Products by 17.9% during the 2nd quarter. FMR LLC now owns 6,789,290 shares of the company’s stock valued at $185,144,000 after acquiring an additional 1,033,057 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Reynolds Consumer Products by 2.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,040,368 shares of the company’s stock worth $273,801,000 after acquiring an additional 236,096 shares during the last quarter. Sei Investments Co. raised its stake in Reynolds Consumer Products by 208.1% in the 2nd quarter. Sei Investments Co. now owns 299,413 shares of the company’s stock worth $8,081,000 after acquiring an additional 202,244 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Reynolds Consumer Products by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,775,347 shares of the company’s stock valued at $332,285,000 after buying an additional 176,453 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Reynolds Consumer Products by 797.5% during the 2nd quarter. Millennium Management LLC now owns 181,472 shares of the company’s stock valued at $4,949,000 after buying an additional 161,253 shares during the last quarter. Institutional investors own 29.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. TheStreet upgraded Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Friday, December 2nd. JPMorgan Chase & Co. lifted their price objective on Reynolds Consumer Products from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, December 13th. Barclays boosted their target price on Reynolds Consumer Products to $27.00 in a report on Tuesday, November 15th. Finally, Royal Bank of Canada cut Reynolds Consumer Products from an “outperform” rating to a “sector perform” rating and set a $30.00 target price on the stock. in a report on Tuesday, January 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.20.

Reynolds Consumer Products Trading Up 0.9 %

Shares of Reynolds Consumer Products stock opened at $30.48 on Thursday. The stock has a market cap of $6.40 billion, a P/E ratio of 24.78 and a beta of 0.47. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.16 and a quick ratio of 0.70. The stock’s 50 day simple moving average is $30.77 and its 200-day simple moving average is $29.12. Reynolds Consumer Products Inc. has a 1-year low of $24.54 and a 1-year high of $32.50.

Reynolds Consumer Products (NASDAQ:REYNGet Rating) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $967.00 million for the quarter, compared to analyst estimates of $981.34 million. Reynolds Consumer Products had a net margin of 6.90% and a return on equity of 14.99%. Analysts predict that Reynolds Consumer Products Inc. will post 1.33 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Tuesday, November 15th. Reynolds Consumer Products’s payout ratio is presently 74.80%.

About Reynolds Consumer Products

(Get Rating)

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 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 E-Z Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.

See Also

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Institutional Ownership by Quarter for Reynolds Consumer Products (NASDAQ:REYN)

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