Bridgewater Associates LP Sells 25,726 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Bridgewater Associates LP lowered its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 71.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,429 shares of the company's stock after selling 25,726 shares during the period. Bridgewater Associates LP's holdings in Reynolds Consumer Products were worth $281,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Reynolds Consumer Products in the 4th quarter worth $17,964,000. Allspring Global Investments Holdings LLC lifted its stake in Reynolds Consumer Products by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company's stock valued at $351,564,000 after acquiring an additional 182,353 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Reynolds Consumer Products by 13.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company's stock worth $32,707,000 after purchasing an additional 139,576 shares in the last quarter. ExodusPoint Capital Management LP lifted its position in Reynolds Consumer Products by 143.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 203,290 shares of the company's stock worth $5,487,000 after buying an additional 119,911 shares in the last quarter. Finally, KBC Group NV acquired a new position in Reynolds Consumer Products during the fourth quarter valued at approximately $2,903,000. Institutional investors own 26.81% of the company's stock.

Insiders Place Their Bets

In related news, Director Rolf Stangl acquired 6,000 shares of the business's stock in a transaction dated Monday, February 10th. The shares were bought at an average price of $24.89 per share, with a total value of $149,340.00. Following the transaction, the director now directly owns 16,889 shares of the company's stock, valued at $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Reynolds Consumer Products Trading Down 1.0 %

NASDAQ:REYN traded down $0.23 on Friday, reaching $23.22. 659,398 shares of the stock traded hands, compared to its average volume of 607,572. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. Reynolds Consumer Products Inc. has a 1-year low of $21.90 and a 1-year high of $32.65. The company's 50 day moving average is $23.78 and its 200-day moving average is $26.22. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 13.82 and a beta of 0.64.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Equities research analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, May 16th. This represents a $0.92 annualized dividend and a yield of 3.96%. Reynolds Consumer Products's dividend payout ratio is currently 54.76%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Evercore ISI cut their price objective on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. Stifel Nicolaus lowered their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. dropped their price target on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, UBS Group dropped their price objective on shares of Reynolds Consumer Products from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Reynolds Consumer Products currently has a consensus rating of "Hold" and an average target price of $28.78.

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.