Janney Montgomery Scott LLC Sells 6,883 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Janney Montgomery Scott LLC trimmed its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 48.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,392 shares of the company’s stock after selling 6,883 shares during the period. Janney Montgomery Scott LLC’s holdings in Reynolds Consumer Products were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. MetLife Investment Management LLC purchased a new stake in shares of Reynolds Consumer Products during the first quarter worth $32,000. Harbour Investments Inc. lifted its position in shares of Reynolds Consumer Products by 737.5% during the fourth quarter. Harbour Investments Inc. now owns 1,675 shares of the company’s stock worth $50,000 after acquiring an additional 1,475 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Reynolds Consumer Products during the first quarter worth $70,000. Point72 Middle East FZE purchased a new stake in shares of Reynolds Consumer Products during the fourth quarter worth $94,000. Finally, Covestor Ltd raised its position in shares of Reynolds Consumer Products by 89.0% in the first quarter. Covestor Ltd now owns 3,631 shares of the company’s stock worth $107,000 after buying an additional 1,710 shares in the last quarter. 27.01% of the stock is owned by institutional investors.

Reynolds Consumer Products Stock Up 0.4 %

Shares of NASDAQ:REYN opened at $25.68 on Friday. The stock’s 50-day moving average price is $25.85 and its 200-day moving average price is $27.17. Reynolds Consumer Products Inc. has a 12-month low of $24.80 and a 12-month high of $32.50. The stock has a market capitalization of $5.39 billion, a P/E ratio of 22.53 and a beta of 0.48. The company has a current ratio of 2.46, a quick ratio of 1.14 and a debt-to-equity ratio of 1.11.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Reynolds Consumer Products had a return on equity of 13.28% and a net margin of 6.18%. The firm had revenue of $940.00 million for the quarter, compared to analysts’ expectations of $937.42 million. During the same period last year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Reynolds Consumer Products Inc. will post 1.36 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.58%. Reynolds Consumer Products’s payout ratio is presently 80.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on Reynolds Consumer Products from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 12th. Stifel Nicolaus lowered their price objective on Reynolds Consumer Products from $30.00 to $27.50 and set a “hold” rating on the stock in a research report on Monday, October 16th. JPMorgan Chase & Co. lowered their price objective on Reynolds Consumer Products from $32.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 12th. Finally, The Goldman Sachs Group raised Reynolds Consumer Products from a “sell” rating to a “neutral” rating and increased their target price for the company from $28.00 to $30.00 in a research note on Monday, October 2nd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Reynolds Consumer Products has an average rating of “Hold” and a consensus price target of $28.69.

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