Compass Wealth Management LLC Reduces Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Compass Wealth Management LLC lessened its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 24.1% in the first quarter, HoldingsChannel reports. The firm owned 1,500 shares of the company’s stock after selling 475 shares during the quarter. Compass Wealth Management LLC’s holdings in Reynolds Consumer Products were worth $36,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Reynolds Consumer Products by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company’s stock valued at $157,704,000 after buying an additional 17,756 shares during the period. Dimensional Fund Advisors LP grew its holdings in Reynolds Consumer Products by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company’s stock valued at $63,586,000 after buying an additional 275,601 shares during the period. Geode Capital Management LLC grew its holdings in Reynolds Consumer Products by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,072,422 shares of the company’s stock valued at $28,953,000 after buying an additional 26,664 shares during the period. Sei Investments Co. grew its holdings in Reynolds Consumer Products by 13.7% in the 4th quarter. Sei Investments Co. now owns 766,463 shares of the company’s stock valued at $20,687,000 after buying an additional 92,473 shares during the period. Finally, Norges Bank purchased a new stake in Reynolds Consumer Products in the 4th quarter valued at about $17,964,000. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on REYN shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a report on Monday, April 28th. Wall Street Zen upgraded Reynolds Consumer Products from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Stifel Nicolaus lowered their price target on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Canaccord Genuity Group decreased their target price on Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Finally, Truist Financial decreased their target price on Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.33.

Reynolds Consumer Products Stock Down 0.3%

Shares of NASDAQ:REYN opened at $21.76 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 1.80. Reynolds Consumer Products Inc. has a 1 year low of $20.91 and a 1 year high of $32.65. The stock has a market capitalization of $4.58 billion, a P/E ratio of 13.60 and a beta of 0.57. The stock has a 50-day simple moving average of $22.19 and a 200-day simple moving average of $24.05.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. Reynolds Consumer Products’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. Equities analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Friday, May 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 57.50%.

Insider Activity at Reynolds Consumer Products

In related news, CAO Chris Mayrhofer purchased 18,218 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average cost of $22.14 per share, with a total value of $403,346.52. Following the transaction, the chief accounting officer owned 18,218 shares of the company’s stock, valued at approximately $403,346.52. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rolf Stangl purchased 4,500 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, June 20th. The shares were bought at an average cost of $21.24 per share, for a total transaction of $95,580.00. Following the completion of the transaction, the director directly owned 30,889 shares in the company, valued at $656,082.36. This represents a 17.05% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 34,766 shares of company stock worth $765,632 over the last three months. 0.15% of the stock is currently owned by corporate insiders.

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.