Eagle Ridge Investment Management Sells 2,151 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Eagle Ridge Investment Management lowered its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 371,446 shares of the company’s stock after selling 2,151 shares during the period. Eagle Ridge Investment Management’s holdings in Reynolds Consumer Products were worth $9,970,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Signaturefd LLC grew its holdings in Reynolds Consumer Products by 120.8% during the fourth quarter. Signaturefd LLC now owns 4,106 shares of the company’s stock valued at $110,000 after purchasing an additional 2,246 shares during the period. KLCM Advisors Inc. grew its holdings in Reynolds Consumer Products by 112.6% during the fourth quarter. KLCM Advisors Inc. now owns 522,891 shares of the company’s stock valued at $14,034,000 after purchasing an additional 276,898 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Reynolds Consumer Products by 14.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,665 shares of the company’s stock valued at $394,000 after purchasing an additional 1,864 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 valued at $462,000 after purchasing an additional 416 shares during the period. Finally, Strs Ohio grew its holdings in Reynolds Consumer Products by 27.9% during the fourth quarter. Strs Ohio now owns 89,678 shares of the company’s stock valued at $2,406,000 after purchasing an additional 19,572 shares during the period. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Price Performance

Shares of NASDAQ:REYN traded up $0.30 during mid-day trading on Monday, reaching $28.76. The stock had a trading volume of 253,790 shares, compared to its average volume of 581,231. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.92. The company has a market cap of $6.04 billion, a P/E ratio of 20.08 and a beta of 0.49. Reynolds Consumer Products Inc. has a 1 year low of $24.80 and a 1 year high of $30.54. The business’s 50 day moving average price is $28.70 and its 200 day moving average price is $27.42.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, February 7th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. Research analysts expect that Reynolds Consumer Products Inc. will post 1.61 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.20%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 64.79%.

Wall Street Analysts Forecast Growth

REYN has been the subject of a number of recent analyst reports. Barclays upped their price objective on Reynolds Consumer Products from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. JPMorgan Chase & Co. upped their price objective on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. TheStreet raised Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $31.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, Reynolds Consumer Products has an average rating of “Hold” and a consensus target price of $29.80.

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.