1,382 Shares in Reynolds Consumer Products Inc. (NASDAQ:REYN) Acquired by Versant Capital Management Inc

Versant Capital Management Inc purchased a new position in Reynolds Consumer Products Inc. (NASDAQ:REYN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,382 shares of the company’s stock, valued at approximately $39,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings 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 worth $27,000 after purchasing an additional 801 shares during the period. Venturi Wealth Management LLC bought a new stake in Reynolds Consumer Products during the 1st quarter valued at $35,000. Quadrant Capital Group LLC raised its holdings in Reynolds Consumer Products by 97.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock valued at $52,000 after acquiring an additional 960 shares during the period. Principal Securities Inc. bought a new stake in Reynolds Consumer Products during the 4th quarter valued at $61,000. Finally, Parallel Advisors LLC raised its holdings in Reynolds Consumer Products by 26.9% during the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after acquiring an additional 485 shares during the period. Institutional investors own 26.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on REYN shares. Barclays lowered their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. Canaccord Genuity Group upped their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.67.

Reynolds Consumer Products Price Performance

NASDAQ:REYN traded up $2.07 during midday trading on Wednesday, hitting $30.64. The company had a trading volume of 245,898 shares, compared to its average volume of 529,411. Reynolds Consumer Products Inc. has a 52-week low of $24.80 and a 52-week high of $30.68. The stock’s fifty day moving average price is $27.82 and its 200-day moving average price is $28.28. The company has a market capitalization of $6.44 billion, a PE ratio of 19.45 and a beta of 0.47. The company has a quick ratio of 1.01, a current ratio of 2.11 and a debt-to-equity ratio of 0.92.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The business had revenue of $833.00 million during the quarter, compared to analyst estimates of $814.92 million. During the same period in the prior year, the business posted $0.08 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. As a group, research analysts expect that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is 58.60%.

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.