Cwm LLC Sells 14,273 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

CWM LLC lessened its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 67.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,948 shares of the company's stock after selling 14,273 shares during the quarter. CWM LLC's holdings in Reynolds Consumer Products were worth $166,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of REYN. Versant Capital Management Inc boosted its stake in shares of Reynolds Consumer Products by 38.1% in the first quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock valued at $61,000 after buying an additional 701 shares during the period. Quarry LP lifted its stake in Reynolds Consumer Products by 187.0% during the fourth 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 last quarter. New Age Alpha Advisors LLC bought a new stake in Reynolds Consumer Products during the fourth quarter worth $165,000. Deutsche Bank AG lifted its stake in Reynolds Consumer Products by 35.8% during the fourth quarter. Deutsche Bank AG now owns 7,247 shares of the company's stock worth $196,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Ariel Investments LLC lifted its stake in shares of 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 acquiring an additional 426 shares during the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on REYN. 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. Barclays dropped their price target on Reynolds Consumer Products from $22.00 to $21.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Royal Bank Of Canada restated a "sector perform" rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a report on Monday, April 28th. Truist Financial decreased their price objective on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Stifel Nicolaus decreased their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Seven equities research 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.com, the company presently has a consensus rating of "Hold" and a consensus price target of $27.67.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl acquired 4,500 shares of the business's stock in a transaction on Friday, June 20th. The shares were acquired at an average price of $21.24 per share, for a total transaction of $95,580.00. Following the completion of the acquisition, the director owned 30,889 shares in the company, valued at $656,082.36. This trade represents a 17.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Chris Mayrhofer acquired 18,218 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were bought at an average price of $22.14 per share, for a total transaction of $403,346.52. Following the transaction, the chief accounting officer owned 18,218 shares of the company's stock, valued at $403,346.52. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 34,766 shares of company stock worth $765,632 in the last 90 days. Corporate insiders own 0.15% of the company's stock.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock traded down $0.19 during mid-day trading on Tuesday, reaching $21.56. The company's stock had a trading volume of 3,509,241 shares, compared to its average volume of 1,082,611. Reynolds Consumer Products Inc. has a 12-month low of $20.91 and a 12-month high of $32.65. The company has a market capitalization of $4.53 billion, a P/E ratio of 13.48 and a beta of 0.57. 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 firm's fifty day moving average price is $21.78 and its two-hundred day moving average price is $23.49.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.23. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.87%. The company had revenue of $801.00 million during the quarter, compared to the consensus estimate of $821.99 million. During the same period in the previous year, the firm posted $0.23 EPS. The firm's revenue was down 1.8% compared to the same quarter last year. Sell-side analysts predict 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, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Friday, August 15th. Reynolds Consumer Products's dividend payout ratio 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.