Isthmus Partners LLC Sells 24,826 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Isthmus Partners LLC decreased its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 22.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,774 shares of the company's stock after selling 24,826 shares during the period. Isthmus Partners LLC's holdings in Reynolds Consumer Products were worth $2,699,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Reynolds Consumer Products by 510.2% during the second quarter. GAMMA Investing LLC now owns 958 shares of the company's stock worth $27,000 after purchasing an additional 801 shares in the last quarter. Versant Capital Management Inc bought a new position in Reynolds Consumer Products in the 2nd quarter worth approximately $39,000. Abich Financial Wealth Management LLC acquired a new position in Reynolds Consumer Products during the 2nd quarter worth $54,000. Capital Performance Advisors LLP bought a new position in Reynolds Consumer Products in the 3rd quarter valued at $70,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Reynolds Consumer Products by 93.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company's stock valued at $80,000 after buying an additional 1,239 shares during the period. Institutional investors own 26.81% of the company's stock.

Reynolds Consumer Products Trading Up 0.2 %

Shares of NASDAQ:REYN traded up $0.05 during mid-day trading on Friday, reaching $27.69. The stock had a trading volume of 293,986 shares, compared to its average volume of 575,291. The firm has a 50 day simple moving average of $28.97 and a two-hundred day simple moving average of $29.06. Reynolds Consumer Products Inc. has a twelve month low of $26.07 and a twelve month high of $32.65. The firm has a market cap of $5.82 billion, a PE ratio of 15.82 and a beta of 0.50. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The firm's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. On average, research analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, November 15th. Reynolds Consumer Products's payout ratio is currently 52.57%.

Insider Activity

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 7,207 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $27.25 per share, with a total value of $196,390.75. Following the purchase, the director now directly owns 7,207 shares of the company's stock, valued at $196,390.75. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Helen Golding acquired 1,190 shares of the business's stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the transaction, the director now owns 1,190 shares of the company's stock, valued at $32,820.20. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

REYN has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. Royal Bank of Canada upped their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a "sector perform" rating in a research 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 set a "buy" rating and a $38.00 price target for the company. Barclays cut their price objective on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Finally, Canaccord Genuity Group lifted their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a "hold" rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Reynolds Consumer Products has an average rating of "Hold" and an average target price of $32.17.

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.