Quest Partners LLC Sells 24,529 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Quest Partners LLC trimmed its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 60.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,190 shares of the company's stock after selling 24,529 shares during the period. Quest Partners LLC's holdings in Reynolds Consumer Products were worth $453,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of REYN. GAMMA Investing LLC boosted its stake in shares of Reynolds Consumer Products by 510.2% during the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company's stock worth $27,000 after buying an additional 801 shares during the last quarter. Versant Capital Management Inc acquired a new stake in Reynolds Consumer Products in the 2nd quarter valued at about $39,000. Quadrant Capital Group LLC lifted its stake in Reynolds Consumer Products by 97.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company's stock valued at $52,000 after purchasing an additional 960 shares during the last quarter. Principal Securities Inc. acquired a new stake in Reynolds Consumer Products in the 4th quarter valued at about $61,000. Finally, Parallel Advisors LLC lifted its stake in Reynolds Consumer Products by 26.9% in the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company's stock valued at $61,000 after purchasing an additional 485 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a "hold" rating in a research note on Thursday, August 8th. Royal Bank of Canada raised 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 note on Thursday, August 8th. Barclays raised their target price on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the company an "equal weight" 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 research note on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a "buy" rating and a $38.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Reynolds Consumer Products has a consensus rating of "Hold" and an average target price of $32.00.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock traded up $0.12 during trading hours on Friday, hitting $31.95. The company had a trading volume of 305,905 shares, compared to its average volume of 530,551. The firm has a market cap of $6.71 billion, a PE ratio of 20.35 and a beta of 0.48. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. Reynolds Consumer Products Inc. has a one year low of $24.80 and a one year high of $32.65. The firm has a 50-day moving average of $29.44 and a 200 day moving average of $28.84.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $890.71 million. During the same period last year, the firm earned $0.32 earnings per share. The business's revenue for the quarter was down 1.1% on a year-over-year basis. On average, sell-side analysts expect that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, August 16th. This represents a $0.92 annualized dividend and a dividend yield of 2.88%. Reynolds Consumer Products's dividend payout ratio is presently 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.