Bank of New York Mellon Corp trimmed its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,191,079 shares of the company's stock after selling 20,726 shares during the quarter. Bank of New York Mellon Corp owned about 0.57% of Reynolds Consumer Products worth $28,419,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Cannon Global Investment Management LLC grew its holdings in Reynolds Consumer Products by 74.4% in the 1st quarter. Cannon Global Investment Management LLC now owns 22,500 shares of the company's stock worth $537,000 after buying an additional 9,600 shares in the last quarter. Villere ST Denis J & Co. LLC grew its holdings in Reynolds Consumer Products by 7.2% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 315,945 shares of the company's stock worth $7,538,000 after buying an additional 21,205 shares in the last quarter. Hunter Perkins Capital Management LLC bought a new position in Reynolds Consumer Products in the 1st quarter worth approximately $649,000. CX Institutional bought a new position in Reynolds Consumer Products in the 1st quarter worth approximately $2,849,000. Finally, SG Americas Securities LLC grew its holdings in Reynolds Consumer Products by 950.5% in the 1st quarter. SG Americas Securities LLC now owns 170,615 shares of the company's stock worth $4,071,000 after buying an additional 154,374 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.
Reynolds Consumer Products Stock Down 1.0%
Shares of NASDAQ:REYN traded down $0.22 during midday trading on Friday, hitting $21.73. 855,613 shares of the stock were exchanged, compared to its average volume of 771,200. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 1.80. The company has a market capitalization of $4.57 billion, a PE ratio of 13.58 and a beta of 0.57. Reynolds Consumer Products Inc. has a 52-week low of $20.91 and a 52-week high of $32.65. The business's fifty day simple moving average is $21.91 and its two-hundred day simple moving average is $23.69.
Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $821.99 million. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.87%. The business's quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. As a group, research analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.
Reynolds Consumer Products Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Friday, May 16th. Reynolds Consumer Products's payout ratio is presently 57.50%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on REYN. Truist Financial decreased their price target on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus decreased their price target 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. decreased 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. Wall Street Zen upgraded Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, UBS Group cut their price objective on Reynolds Consumer Products from $25.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Reynolds Consumer Products currently has an average rating of "Hold" and an average target price of $27.67.
Read Our Latest Research Report on REYN
Insider Activity
In related news, CAO Chris Mayrhofer bought 5,048 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, May 30th. The stock was acquired at an average price of $21.99 per share, for a total transaction of $111,005.52. Following the completion of the purchase, the chief accounting officer owned 23,266 shares in the company, valued at approximately $511,619.34. This represents a 27.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rolf Stangl bought 4,500 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average price of $21.24 per share, with a total value of $95,580.00. Following the purchase, the director owned 30,889 shares of the company's stock, valued at $656,082.36. This trade represents a 17.05% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 34,766 shares of company stock valued at $765,632. 0.15% of the stock is owned by corporate insiders.
Reynolds Consumer Products Profile
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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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