Cwm LLC Cuts Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

CWM LLC lowered its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 67.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 hedge funds also recently bought and sold shares of the business. Ariel Investments LLC raised its holdings in shares of Reynolds Consumer Products by 6.1% during the fourth 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. Versant Capital Management Inc raised its holdings in shares of Reynolds Consumer Products by 38.1% during the first quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock valued at $61,000 after acquiring an additional 701 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Reynolds Consumer Products by 21.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 9,142 shares of the company's stock valued at $247,000 after acquiring an additional 1,643 shares during the last quarter. Quarry LP raised its holdings in shares of Reynolds Consumer Products by 187.0% during the fourth quarter. Quarry LP now owns 2,531 shares of the company's stock valued at $68,000 after acquiring an additional 1,649 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Reynolds Consumer Products by 4.6% during the fourth quarter. Voya Investment Management LLC now owns 43,462 shares of the company's stock valued at $1,173,000 after acquiring an additional 1,907 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company's stock.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 4,500 shares of Reynolds Consumer Products stock in a transaction on Friday, June 20th. The shares were bought at an average price of $21.24 per share, with a total value of $95,580.00. Following the purchase, the director directly owned 30,889 shares in the company, valued at $656,082.36. This trade represents a 17.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Chris Mayrhofer purchased 5,048 shares of Reynolds Consumer Products stock in a transaction on Friday, May 30th. The shares were acquired at an average cost of $21.99 per share, for a total transaction of $111,005.52. Following the purchase, the chief accounting officer owned 23,266 shares in the company, valued at approximately $511,619.34. This trade represents a 27.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 34,766 shares of company stock worth $765,632. 0.15% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Canaccord Genuity Group cut their price target on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, May 1st. 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 note on Friday, April 11th. Wall Street Zen raised Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. 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 report on Thursday, April 10th. Finally, Barclays lifted their target price on Reynolds Consumer Products from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $28.00.

Reynolds Consumer Products Price Performance

NASDAQ REYN traded down $0.41 during mid-day trading on Friday, hitting $22.08. The stock had a trading volume of 322,199 shares, compared to its average volume of 958,682. Reynolds Consumer Products Inc. has a 52-week low of $20.91 and a 52-week high of $32.65. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 14.82 and a beta of 0.57. The company has a 50 day simple moving average of $21.76 and a 200 day simple moving average of $23.44. The company has a quick ratio of 0.72, a current ratio of 1.80 and a debt-to-equity ratio of 0.76.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Reynolds Consumer Products had a return on equity of 16.07% and a net margin of 8.44%. The firm had revenue of $938.00 million during the quarter, compared to the consensus estimate of $899.05 million. During the same period last year, the business posted $0.46 EPS. Reynolds Consumer Products's quarterly revenue was up .9% on a year-over-year basis. Equities analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, August 15th. Reynolds Consumer Products's dividend payout ratio is 61.74%.

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.