Trajan Wealth LLC Acquires Shares of 6,613 Reynolds Consumer Products Inc. (NASDAQ:REYN)

Trajan Wealth LLC acquired a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,613 shares of the company’s stock, valued at approximately $206,000.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays lifted their price objective on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Royal Bank of Canada increased their price objective on shares of 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. raised their target price on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Canaccord Genuity Group raised their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.33.

Reynolds Consumer Products Price Performance

Reynolds Consumer Products stock opened at $27.69 on Thursday. The stock has a market capitalization of $5.82 billion, a P/E ratio of 17.64 and a beta of 0.48. Reynolds Consumer Products Inc. has a 12-month low of $25.08 and a 12-month high of $32.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. The firm’s 50-day moving average is $30.78 and its two-hundred day moving average is $29.22.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $930.00 million for the quarter, compared to analyst estimates of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. Reynolds Consumer Products’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. Equities analysts predict that Reynolds Consumer Products Inc. will post 1.7 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio is currently 58.60%.

Reynolds Consumer Products 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.