Ceredex Value Advisors LLC Has $9.21 Million Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Ceredex Value Advisors LLC lessened its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 14.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 296,224 shares of the company's stock after selling 51,400 shares during the period. Ceredex Value Advisors LLC owned about 0.14% of Reynolds Consumer Products worth $9,213,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in Reynolds Consumer Products in the 1st quarter valued at approximately $232,000. Quantbot Technologies LP raised its holdings in shares of Reynolds Consumer Products by 244.5% in the first quarter. Quantbot Technologies LP now owns 34,308 shares of the company's stock valued at $980,000 after purchasing an additional 24,350 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Reynolds Consumer Products by 50.6% in the first quarter. Oppenheimer & Co. Inc. now owns 25,000 shares of the company's stock worth $714,000 after purchasing an additional 8,400 shares in the last quarter. Clifford Capital Partners LLC boosted its holdings in Reynolds Consumer Products by 12.9% during the first quarter. Clifford Capital Partners LLC now owns 22,211 shares of the company's stock worth $634,000 after purchasing an additional 2,545 shares during the last quarter. Finally, Isthmus Partners LLC grew its position in Reynolds Consumer Products by 51.2% in the first quarter. Isthmus Partners LLC now owns 111,372 shares of the company's stock valued at $3,181,000 after purchasing an additional 37,703 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.

Reynolds Consumer Products Stock Performance

Shares of REYN traded up $0.27 during mid-day trading on Friday, reaching $27.22. The company's stock had a trading volume of 1,055,167 shares, compared to its average volume of 461,007. The company has a current ratio of 2.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.84. Reynolds Consumer Products Inc. has a 1-year low of $25.29 and a 1-year high of $32.65. The business has a 50-day simple moving average of $30.64 and a two-hundred day simple moving average of $29.22. The stock has a market cap of $5.72 billion, a P/E ratio of 15.55 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly 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 net margin of 10.03% and a return on equity of 18.27%. The business had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. During the same period in the prior year, the business earned $0.37 EPS. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.38%. Reynolds Consumer Products's dividend payout ratio (DPR) is currently 52.57%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays cut their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Thursday. Royal Bank of Canada upped their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a "sector perform" rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised 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. Canaccord Genuity Group upped their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a "hold" rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They issued a "buy" rating and a $38.00 price objective for the company. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $32.17.

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.