Bank of America Corp DE Has $9.65 Million Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Bank of America Corp DE lessened its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 34.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 357,687 shares of the company's stock after selling 184,993 shares during the period. Bank of America Corp DE owned approximately 0.17% of Reynolds Consumer Products worth $9,654,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in REYN. BNP Paribas Financial Markets acquired a new position in shares of Reynolds Consumer Products during the fourth quarter worth approximately $1,605,000. Ameriprise Financial Inc. raised its stake in Reynolds Consumer Products by 214.8% during the 4th quarter. Ameriprise Financial Inc. now owns 20,870 shares of the company's stock valued at $563,000 after purchasing an additional 14,241 shares during the last quarter. Ariel Investments LLC boosted its holdings in Reynolds Consumer Products by 6.1% in the 4th quarter. Ariel Investments LLC now owns 7,446 shares of the company's stock valued at $201,000 after purchasing an additional 426 shares during the period. Northern Trust Corp grew its position in Reynolds Consumer Products by 49.1% in the 4th quarter. Northern Trust Corp now owns 350,398 shares of the company's stock worth $9,457,000 after purchasing an additional 115,399 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Reynolds Consumer Products by 187.0% during the 4th quarter. Quarry LP now owns 2,531 shares of the company's stock worth $68,000 after purchasing an additional 1,649 shares during the period. Institutional investors own 26.81% of the company's stock.

Analysts Set New Price Targets

REYN has been the topic of a number of recent research reports. Barclays decreased their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus lowered their price objective on 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. Truist Financial reduced their target price on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Royal Bank of Canada reissued a "sector perform" rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a report on Monday, April 28th. Finally, Evercore ISI dropped 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 research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Reynolds Consumer Products presently has an average rating of "Hold" and an average price target of $28.33.

Insider Buying and Selling at Reynolds Consumer Products

In related news, Director Rolf Stangl bought 2,500 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average cost of $23.22 per share, for a total transaction of $58,050.00. Following the transaction, the director now owns 19,389 shares of the company's stock, valued at $450,212.58. This represents a 14.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.15% of the company's stock.

Reynolds Consumer Products Price Performance

Reynolds Consumer Products stock traded up $0.24 during trading hours on Thursday, hitting $22.29. 1,142,628 shares of the stock were exchanged, compared to its average volume of 640,547. The stock has a market capitalization of $4.69 billion, a P/E ratio of 13.27 and a beta of 0.61. The business's 50-day moving average is $23.20 and its two-hundred day moving average is $25.21. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. Reynolds Consumer Products Inc. has a 12 month low of $21.63 and a 12 month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.23. The business had revenue of $801.00 million during the quarter, compared to analysts' expectations of $821.99 million. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 earnings per share. Equities research analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Friday, May 16th. Reynolds Consumer Products's dividend payout ratio is 57.50%.

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.