Asset Management One Co. Ltd. decreased its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,346 shares of the company's stock after selling 16,785 shares during the period. Asset Management One Co. Ltd.'s holdings in Reynolds Consumer Products were worth $1,917,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in Reynolds Consumer Products by 13.0% during 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 buying an additional 139,576 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Reynolds Consumer Products in the fourth quarter worth $424,000. Charles Schwab Investment Management Inc. raised its stake in shares of Reynolds Consumer Products by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company's stock worth $15,976,000 after purchasing an additional 19,044 shares in the last quarter. Victory Capital Management Inc. grew its position in Reynolds Consumer Products by 14.8% in the fourth quarter. Victory Capital Management Inc. now owns 19,471 shares of the company's stock worth $526,000 after acquiring an additional 2,508 shares in the last quarter. Finally, Atria Investments Inc raised its holdings in Reynolds Consumer Products by 14.8% during the fourth quarter. Atria Investments Inc now owns 12,956 shares of the company's stock valued at $350,000 after buying an additional 1,670 shares in the last quarter. Institutional investors own 26.81% of the company's stock.
Insider Activity
In related news, Director Rolf Stangl purchased 4,500 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was acquired at an average cost of $21.24 per share, for a total transaction of $95,580.00. Following the completion of the purchase, the director owned 30,889 shares in the company, valued at approximately $656,082.36. This represents a 17.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Chris Mayrhofer bought 5,048 shares of Reynolds Consumer Products stock in a transaction dated Friday, May 30th. The shares were bought at an average cost of $21.99 per share, for a total transaction of $111,005.52. Following the completion of the acquisition, the chief accounting officer owned 23,266 shares in the company, valued at $511,619.34. This represents a 27.71% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 34,766 shares of company stock valued at $765,632 in the last ninety days. 0.15% of the stock is currently owned by insiders.
Reynolds Consumer Products Stock Down 0.3%
Shares of REYN traded down $0.07 during midday trading on Thursday, hitting $21.76. The stock had a trading volume of 513,398 shares, compared to its average volume of 747,109. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 13.60 and a beta of 0.57. The company has a 50 day simple moving average of $22.25 and a two-hundred day simple moving average of $24.18. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.80 and a quick ratio of 0.72. Reynolds Consumer Products Inc. has a twelve month low of $20.91 and a twelve month high of $32.65.
Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. Reynolds Consumer Products's revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. On average, analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.
Reynolds Consumer Products Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Friday, May 16th. Reynolds Consumer Products's dividend payout ratio is 57.50%.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Wall Street Zen raised shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a report on Friday, May 30th. JPMorgan Chase & Co. cut their target price on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Stifel Nicolaus reduced their price target on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $28.33.
Check Out Our Latest Analysis on Reynolds Consumer Products
About Reynolds Consumer Products
(
Free Report)
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.
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