Versant Capital Management Inc Acquires Shares of 1,382 Reynolds Consumer Products Inc. (NASDAQ:REYN)

Versant Capital Management Inc purchased a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,382 shares of the company’s stock, valued at approximately $39,000.

Several other large investors have also modified their holdings of REYN. Park Avenue Securities LLC grew its holdings in Reynolds Consumer Products by 2.8% during the first quarter. Park Avenue Securities LLC now owns 12,959 shares of the company’s stock worth $370,000 after acquiring an additional 359 shares during the period. Cornercap Investment Counsel Inc. grew its holdings in Reynolds Consumer Products by 2.5% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 17,225 shares of the company’s stock worth $462,000 after acquiring an additional 416 shares during the period. Ariel Investments LLC grew its holdings in Reynolds Consumer Products by 7.0% during the first quarter. Ariel Investments LLC now owns 7,136 shares of the company’s stock worth $204,000 after acquiring an additional 466 shares during the period. Covestor Ltd grew its holdings in Reynolds Consumer Products by 15.8% during the first quarter. Covestor Ltd now owns 3,520 shares of the company’s stock worth $101,000 after acquiring an additional 480 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Reynolds Consumer Products by 26.9% during the fourth quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock worth $61,000 after acquiring an additional 485 shares during the period. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on REYN. Canaccord Genuity Group upped their target price on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. lowered their target price on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, Barclays lowered their target price on 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. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Reynolds Consumer Products currently has an average rating of “Hold” and an average target price of $29.67.

Reynolds Consumer Products Stock Up 7.2 %

NASDAQ REYN traded up $2.07 during mid-day trading on Wednesday, reaching $30.64. 245,898 shares of the company’s stock traded hands, compared to its average volume of 529,411. Reynolds Consumer Products Inc. has a 1-year low of $24.80 and a 1-year high of $30.68. The company has a fifty day simple moving average of $27.82 and a 200-day simple moving average of $28.28. The company has a current ratio of 2.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.92. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 19.45 and a beta of 0.47.

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

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.00%. Reynolds Consumer Products’s dividend payout ratio is currently 58.60%.

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.