Northwest Investment Counselors LLC Sells 500 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Northwest Investment Counselors LLC decreased its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,200 shares of the company’s stock after selling 500 shares during the period. Northwest Investment Counselors LLC’s holdings in Reynolds Consumer Products were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in Reynolds Consumer Products by 1.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 12,925,469 shares of the company’s stock valued at $401,982,000 after purchasing an additional 137,083 shares during the period. Vanguard Group Inc. raised its position in Reynolds Consumer Products by 0.5% in the first quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock worth $161,739,000 after acquiring an additional 29,838 shares during the period. Pacer Advisors Inc. raised its position in Reynolds Consumer Products by 48.6% in the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock worth $108,845,000 after acquiring an additional 1,272,353 shares during the period. Dimensional Fund Advisors LP raised its position in Reynolds Consumer Products by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock worth $49,859,000 after acquiring an additional 261,513 shares during the period. Finally, AQR Capital Management LLC raised its position in Reynolds Consumer Products by 122.7% in the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock worth $43,588,000 after acquiring an additional 858,419 shares during the period. Institutional investors own 26.81% of the company’s stock.

Wall Street Analyst Weigh In

REYN has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective for the company. Barclays increased their price objective on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note 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 stock a “sector perform” rating in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group increased 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.33.

Reynolds Consumer Products Price Performance

REYN traded down $0.18 during trading on Monday, hitting $30.04. 128,779 shares of the company traded hands, compared to its average volume of 566,047. The company has a market cap of $6.31 billion, a PE ratio of 19.25 and a beta of 0.48. The stock’s 50-day simple moving average is $30.88 and its two-hundred day simple moving average is $29.16. Reynolds Consumer Products Inc. has a 1 year low of $24.85 and a 1 year high of $32.65. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The company had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $890.71 million. During the same period last year, the company posted $0.32 earnings per share. Reynolds Consumer Products’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.23 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.06%. Reynolds Consumer Products’s 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.