Isthmus Partners LLC Boosts Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Isthmus Partners LLC lifted its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,116 shares of the company’s stock after buying an additional 2,809 shares during the quarter. Isthmus Partners LLC’s holdings in Reynolds Consumer Products were worth $2,150,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc boosted its stake in Reynolds Consumer Products by 38.1% during the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company’s stock valued at $61,000 after acquiring an additional 701 shares during the last quarter. Quarry LP lifted its position in shares of Reynolds Consumer Products by 187.0% during the fourth quarter. Quarry LP now owns 2,531 shares of the company’s stock worth $68,000 after purchasing an additional 1,649 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock worth $70,000 after purchasing an additional 2,248 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Reynolds Consumer Products in the fourth quarter valued at about $165,000. Finally, Deutsche Bank AG raised its stake in Reynolds Consumer Products by 35.8% during the fourth quarter. Deutsche Bank AG now owns 7,247 shares of the company’s stock valued at $196,000 after buying an additional 1,910 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Insider Buying and Selling at Reynolds Consumer Products

In other Reynolds Consumer Products news, CAO Chris Mayrhofer purchased 5,048 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was bought at an average price of $21.99 per share, with a total value of $111,005.52. Following the completion of the purchase, the chief accounting officer owned 23,266 shares in the company, valued at $511,619.34. This trade represents a 27.71% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rolf Stangl purchased 4,500 shares of the stock in a transaction dated Friday, June 20th. The shares were acquired at an average cost of $21.24 per share, for a total transaction of $95,580.00. Following the completion of the acquisition, the director directly owned 30,889 shares of the company’s stock, valued at approximately $656,082.36. This trade represents a 17.05% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 34,766 shares of company stock worth $765,632 in the last ninety days. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on REYN shares. Wall Street Zen raised Reynolds Consumer Products from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Canaccord Genuity Group dropped their target price on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Finally, Truist Financial dropped their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus target price of $28.33.

Reynolds Consumer Products Stock Down 0.2%

REYN stock opened at $21.86 on Friday. The stock has a market cap of $4.60 billion, a PE ratio of 13.66 and a beta of 0.57. The firm’s 50-day simple moving average is $22.04 and its 200 day simple moving average is $23.88. Reynolds Consumer Products Inc. has a fifty-two week low of $20.91 and a fifty-two week high of $32.65. The company has a quick ratio of 0.72, a current ratio of 1.80 and a debt-to-equity ratio of 0.76.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.87%. Reynolds Consumer Products’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 earnings per share. As a group, sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Friday, May 16th. Reynolds Consumer Products’s dividend payout ratio is currently 57.50%.

About Reynolds Consumer Products

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.