Lazard Asset Management LLC Cuts Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Lazard Asset Management LLC trimmed its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 94.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,558 shares of the company's stock after selling 58,347 shares during the period. Lazard Asset Management LLC's holdings in Reynolds Consumer Products were worth $96,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Reynolds Consumer Products by 115.2% in the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after acquiring an additional 698 shares during the period. Quarry LP grew its holdings in shares of Reynolds Consumer Products by 187.0% in the 4th quarter. Quarry LP now owns 2,531 shares of the company's stock worth $68,000 after acquiring an additional 1,649 shares during the period. Farther Finance Advisors LLC grew its holdings 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 during the period. Venturi Wealth Management LLC grew its holdings in shares of Reynolds Consumer Products by 36.0% in the 4th quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock worth $94,000 after acquiring an additional 921 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Reynolds Consumer Products in the 4th quarter worth approximately $165,000. 26.81% of the stock is owned by hedge funds and other institutional investors.

Reynolds Consumer Products Trading Up 1.6%

Shares of Reynolds Consumer Products stock traded up $0.35 during trading hours on Tuesday, reaching $22.33. 747,640 shares of the company's stock were exchanged, compared to its average volume of 635,967. Reynolds Consumer Products Inc. has a 52-week low of $21.63 and a 52-week high of $32.65. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 13.29 and a beta of 0.61. The company has a fifty day moving average of $23.29 and a 200-day moving average of $25.29. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued 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. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. During the same quarter in the prior year, the company posted $0.23 EPS. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. Sell-side analysts forecast 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, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Friday, May 16th. Reynolds Consumer Products's dividend payout ratio is presently 57.50%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on REYN shares. Canaccord Genuity Group lowered their price target on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Evercore ISI lowered their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered their target price on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. UBS Group lowered their target price on Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Truist Financial lowered their target price on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $28.33.

Insiders Place Their Bets

In other news, Director Rolf Stangl bought 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $23.22 per share, with a total value of $58,050.00. Following the transaction, the director now owns 19,389 shares of the company's stock, valued at $450,212.58. This represents a 14.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.15% of the company's stock.

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.