Aristides Capital LLC Buys New Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Aristides Capital LLC bought a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,857 shares of the company’s stock, valued at approximately $253,000.

Several other hedge funds also recently added to or reduced their stakes in REYN. Vanguard Group Inc. increased its position in Reynolds Consumer Products by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,607,712 shares of the company’s stock valued at $143,726,000 after buying an additional 19,527 shares in the last quarter. Oak Thistle LLC increased its position in Reynolds Consumer Products by 50.9% during the 4th quarter. Oak Thistle LLC now owns 16,049 shares of the company’s stock valued at $431,000 after buying an additional 5,414 shares in the last quarter. International Assets Investment Management LLC increased its position in Reynolds Consumer Products by 467.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock valued at $66,000 after buying an additional 2,012 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in Reynolds Consumer Products during the 4th quarter valued at about $8,408,000. Finally, Allspring Global Investments Holdings LLC increased its position in Reynolds Consumer Products by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,891,557 shares of the company’s stock valued at $346,009,000 after buying an additional 41,949 shares in the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Reynolds Consumer Products Price Performance

Shares of Reynolds Consumer Products stock traded up $0.43 during mid-day trading on Friday, reaching $27.79. 301,942 shares of the stock traded hands, compared to its average volume of 420,827. The business has a 50-day moving average of $27.90 and a 200 day moving average of $28.24. Reynolds Consumer Products Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $30.54. The stock has a market capitalization of $5.84 billion, a PE ratio of 17.70 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 announced its earnings results on Wednesday, May 8th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. The business had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $814.92 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The business’s revenue was down 4.7% compared to the same quarter last year. On average, analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.31%. Reynolds Consumer Products’s dividend payout ratio is presently 58.60%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on REYN. Barclays dropped their price target on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, July 19th. Canaccord Genuity Group boosted their price target on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. dropped their price target on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus target price of $29.67.

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.