Inscription Capital LLC Makes New Investment in Reynolds Consumer Products Inc. $REYN

Inscription Capital LLC purchased a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) in the 3rd quarter, Holdings Channel reports. The firm purchased 36,094 shares of the company’s stock, valued at approximately $780,000.

A number of other large investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC grew its holdings in shares of Reynolds Consumer Products by 46.6% during the third quarter. Chicago Partners Investment Group LLC now owns 35,095 shares of the company’s stock worth $808,000 after purchasing an additional 11,156 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Reynolds Consumer Products in the third quarter valued at approximately $203,000. Signaturefd LLC increased its position in Reynolds Consumer Products by 120.3% during the 3rd quarter. Signaturefd LLC now owns 1,776 shares of the company’s stock valued at $38,000 after purchasing an additional 970 shares during the period. Evergreen Capital Management LLC increased its position in Reynolds Consumer Products by 39.8% during the 3rd quarter. Evergreen Capital Management LLC now owns 11,666 shares of the company’s stock valued at $252,000 after purchasing an additional 3,324 shares during the period. Finally, Burns Matteson Capital Management LLC bought a new position in Reynolds Consumer Products during the 3rd quarter worth approximately $456,000. 26.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

REYN has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Reynolds Consumer Products from $26.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 15th. JPMorgan Chase & Co. increased their price objective on shares of Reynolds Consumer Products from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Piper Sandler raised shares of Reynolds Consumer Products to an “overweight” rating in a research report on Thursday, July 30th. UBS Group increased their price target on Reynolds Consumer Products from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Canaccord Genuity Group lifted their price objective on Reynolds Consumer Products from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.20.

Reynolds Consumer Products Trading Down 1.7%

Shares of NASDAQ:REYN traded down $0.42 during mid-day trading on Friday, hitting $24.11. The company had a trading volume of 1,650,887 shares, compared to its average volume of 1,084,907. The firm has a fifty day moving average price of $22.59 and a 200 day moving average price of $23.23. The company has a market capitalization of $5.08 billion, a PE ratio of 15.76 and a beta of 0.56. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.80 and a quick ratio of 0.71. Reynolds Consumer Products Inc. has a one year low of $20.44 and a one year high of $27.32.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $944.00 million for the quarter, compared to the consensus estimate of $939.23 million. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.03%. Reynolds Consumer Products’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. As a group, research analysts forecast that Reynolds Consumer Products Inc. will post 1.60 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, November 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.8%. Reynolds Consumer Products’s dividend payout ratio is currently 56.10%.

Reynolds Consumer Products Company Profile

Reynolds Consumer Products Inc (NASDAQ:REYN) manufactures and markets household products used for food preparation, storage, cleanup and waste management. Its portfolio includes aluminum foil, parchment paper, plastic wrap, disposable cookware, trash bags, food-storage bags and other everyday consumer products.

The company sells products under well-known brands including Reynolds and Reynolds Kitchens, Hefty, Presto, Diamond and Fresh. Its offerings are distributed through grocery stores, mass merchants, club stores, e-commerce channels and other retail outlets, as well as through foodservice and other commercial customers.

Reynolds Consumer Products serves consumers primarily in the United States and Canada.