KBC Group NV Sells 106,249 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

KBC Group NV reduced its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 98.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,314 shares of the company's stock after selling 106,249 shares during the period. KBC Group NV's holdings in Reynolds Consumer Products were worth $31,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quarry LP raised its position 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 purchasing an additional 1,649 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Reynolds Consumer Products by 38.1% in the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock worth $61,000 after acquiring an additional 701 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Reynolds Consumer Products by 667.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock worth $70,000 after acquiring an additional 2,248 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Reynolds Consumer Products in the 4th quarter worth about $165,000. Finally, Deutsche Bank AG raised its position in shares of Reynolds Consumer Products by 35.8% in the 4th quarter. Deutsche Bank AG now owns 7,247 shares of the company's stock worth $196,000 after acquiring an additional 1,910 shares in the last quarter. 26.81% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Canaccord Genuity Group lowered their price objective on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Truist Financial cut their target price on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. cut their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock 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 report on Friday, May 30th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $28.33.

Reynolds Consumer Products Stock Up 0.2%

REYN stock traded up $0.04 during mid-day trading on Wednesday, reaching $21.72. 1,595,284 shares of the company traded hands, compared to its average volume of 757,193. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 13.58 and a beta of 0.57. 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 Inc. has a fifty-two week low of $20.91 and a fifty-two week high of $32.65. The firm's 50 day moving average price is $22.12 and its 200 day moving average price is $23.99.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.23. The business had revenue of $801.00 million during the quarter, compared to the consensus estimate of $821.99 million. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. The company's quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. As a group, equities research 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 announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.24%. Reynolds Consumer Products's payout ratio is presently 57.50%.

Reynolds Consumer Products Profile

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.