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

Isthmus Partners LLC lowered its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 22.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 reporting period.

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

Insider Activity

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

Reynolds Consumer Products Stock Performance

REYN stock opened at $27.64 on Friday. The stock has a market capitalization of $5.81 billion, a PE ratio of 15.79 and a beta of 0.50. Reynolds Consumer Products Inc. has a 12-month low of $25.81 and a 12-month high of $32.65. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The stock’s 50 day simple moving average is $29.06 and its 200 day simple moving average is $29.07.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data 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). The business 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 business’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. As a group, research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.33%. Reynolds Consumer Products’s payout ratio is 52.57%.

Analyst Ratings Changes

REYN has been the topic of a number of research analyst reports. Barclays reduced their price target on 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. Royal Bank of Canada boosted their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Canaccord Genuity Group boosted their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They set a “buy” rating and a $38.00 price target on the stock. 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.com, the company has a consensus 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.