Jacobs Levy Equity Management Inc. Sells 621 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Jacobs Levy Equity Management Inc. cut its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 0.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 94,446 shares of the company’s stock after selling 621 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Reynolds Consumer Products were worth $2,937,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. True Wealth Design LLC purchased a new position in shares of Reynolds Consumer Products in the third quarter valued at about $29,000. GAMMA Investing LLC grew its stake in shares of Reynolds Consumer Products by 510.2% in the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $27,000 after purchasing an additional 801 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in Reynolds Consumer Products during the 2nd quarter valued at about $54,000. Capital Performance Advisors LLP bought a new position in Reynolds Consumer Products during the 3rd quarter valued at approximately $70,000. Finally, Venturi Wealth Management LLC lifted its holdings in Reynolds Consumer Products by 93.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock worth $80,000 after buying an additional 1,239 shares during the period. 26.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

REYN has been the topic of several research analyst reports. Jefferies Financial Group started coverage on Reynolds Consumer Products in a research note on Thursday, August 29th. They set a “buy” rating and a $38.00 target price on the stock. Barclays decreased their price objective on shares of 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.17.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 7,207 shares of the stock in a transaction dated Friday, November 1st. The shares were purchased at an average cost of $27.25 per share, with a total value of $196,390.75. Following the transaction, the director now directly owns 7,207 shares in the company, valued at approximately $196,390.75. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Helen Golding bought 1,190 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the acquisition, the director now directly owns 1,190 shares in the company, valued at $32,820.20. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Reynolds Consumer Products Stock Performance

Shares of REYN opened at $27.43 on Friday. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average price is $28.64 and its 200-day moving average price is $29.01. Reynolds Consumer Products Inc. has a 52 week low of $26.16 and a 52 week high of $32.65. The stock has a market cap of $5.76 billion, a P/E ratio of 15.67 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The firm had revenue of $910.00 million during the quarter, compared to analysts’ expectations of $902.88 million. During the same period last year, the firm posted $0.37 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 earnings per share 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. Investors of record on Friday, November 15th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.35%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 52.57%.

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.