KBC Group NV Has $31,000 Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

KBC Group NV lowered its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 98.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,314 shares of the company's stock after selling 106,249 shares during the quarter. KBC Group NV's holdings in Reynolds Consumer Products were worth $31,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc increased its stake in Reynolds Consumer Products by 38.1% during the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock worth $61,000 after buying an additional 701 shares during the period. Quarry LP increased its stake in 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 buying an additional 1,649 shares during the period. Farther Finance Advisors LLC increased its stake in Reynolds Consumer Products by 667.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock worth $70,000 after buying an additional 2,248 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Reynolds Consumer Products during the 4th quarter worth $165,000. Finally, Deutsche Bank AG increased its stake in Reynolds Consumer Products by 35.8% during the 4th quarter. Deutsche Bank AG now owns 7,247 shares of the company's stock worth $196,000 after buying an additional 1,910 shares during the period. Institutional investors and hedge funds own 26.81% of the company's stock.

Wall Street Analyst Weigh In

REYN has been the subject of several research analyst reports. Wall Street Zen raised shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. UBS Group dropped their target price on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. dropped their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Stifel Nicolaus decreased their price target on shares of 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, Canaccord Genuity Group decreased their price target 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. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Reynolds Consumer Products has an average rating of "Hold" and a consensus target price of $28.33.

Reynolds Consumer Products Price Performance

Shares of REYN traded down $0.05 during mid-day trading on Friday, hitting $21.86. 703,410 shares of the company traded hands, compared to its average volume of 761,021. Reynolds Consumer Products Inc. has a one year low of $20.91 and a one year high of $32.65. The company has a current ratio of 1.80, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average of $22.04 and a 200 day moving average of $23.90. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 13.01 and a beta of 0.57.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting analysts' consensus estimates of $0.23. The company had revenue of $801.00 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. As a group, equities analysts expect that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.23 per share. The ex-dividend date was Friday, May 16th. This represents a $0.92 annualized dividend and a yield of 4.21%. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 57.50%.

Insider Activity

In other news, CAO Chris Mayrhofer acquired 5,048 shares of the stock in a transaction dated Friday, May 30th. The shares were bought at an average cost of $21.99 per share, for a total transaction of $111,005.52. Following the purchase, the chief accounting officer directly owned 23,266 shares of the company's stock, valued at approximately $511,619.34. This trade represents a 27.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rolf Stangl purchased 4,500 shares of the stock in a transaction on Friday, June 20th. The stock was bought at an average cost 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 approximately $656,082.36. This trade represents a 17.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 34,766 shares of company stock worth $765,632 over the last three months. Insiders own 0.15% of the company's stock.

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.