Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 34.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 357,687 shares of the company's stock after selling 184,993 shares during the period. Bank of America Corp DE owned about 0.17% of Reynolds Consumer Products worth $9,654,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of REYN. Envestnet Portfolio Solutions Inc. increased its stake in Reynolds Consumer Products by 4.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock worth $363,000 after buying an additional 566 shares in the last quarter. Barclays PLC boosted its stake in shares of Reynolds Consumer Products by 173.9% in the third quarter. Barclays PLC now owns 63,121 shares of the company's stock worth $1,963,000 after acquiring an additional 40,075 shares during the last quarter. Stifel Financial Corp increased its position in shares of Reynolds Consumer Products by 65.0% during the fourth quarter. Stifel Financial Corp now owns 153,845 shares of the company's stock worth $4,152,000 after purchasing an additional 60,616 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Reynolds Consumer Products during the fourth quarter worth approximately $424,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Reynolds Consumer Products by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company's stock valued at $15,976,000 after purchasing an additional 19,044 shares during the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on REYN. Stifel Nicolaus lowered their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. UBS Group decreased their price target on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of 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. Canaccord Genuity Group cut their price objective on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $30.00 target price on shares of Reynolds Consumer Products in a report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $28.33.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl bought 2,500 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $23.22 per share, with a total value of $58,050.00. Following the completion of the transaction, the director now directly owns 19,389 shares of the company's stock, valued at $450,212.58. This represents a 14.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.15% of the company's stock.

Reynolds Consumer Products Trading Up 1.6%

REYN stock traded up $0.35 during trading on Tuesday, reaching $22.33. 747,640 shares of the stock were exchanged, compared to its average volume of 635,967. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 13.29 and a beta of 0.61. The business has a 50 day moving average price of $23.29 and a 200-day moving average price of $25.29. Reynolds Consumer Products Inc. has a 1 year low of $21.63 and a 1 year 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 EPS for the quarter, meeting the consensus estimate of $0.23. The firm had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS. On average, research analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current 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 paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Friday, May 16th. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 57.50%.

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.