Nuveen Asset Management LLC Sells 12,407 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Nuveen Asset Management LLC decreased its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 16.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,877 shares of the company's stock after selling 12,407 shares during the period. Nuveen Asset Management LLC's holdings in Reynolds Consumer Products were worth $1,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in REYN. Barclays PLC boosted its holdings in shares of Reynolds Consumer Products by 173.9% in the third quarter. Barclays PLC now owns 63,121 shares of the company's stock worth $1,963,000 after buying an additional 40,075 shares during the period. Blue Trust Inc. boosted its holdings in shares of Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after buying an additional 698 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of Reynolds Consumer Products by 5.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company's stock worth $443,000 after buying an additional 814 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Reynolds Consumer Products by 1.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company's stock worth $351,564,000 after buying an additional 182,353 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Reynolds Consumer Products by 36.0% in the fourth quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock worth $94,000 after buying an additional 921 shares during the period. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Rolf Stangl bought 2,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $23.22 per share, with a total value of $58,050.00. Following the completion of the transaction, the director now owns 19,389 shares of the company's stock, valued at $450,212.58. The trade was a 14.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Chris Mayrhofer bought 5,048 shares of the company's stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 23,266 shares of the company's stock, valued at $511,619.34. This trade represents a 27.71% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 25,766 shares of company stock valued at $572,402 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a report on Monday, April 28th. UBS Group decreased 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 report on Thursday, May 1st. Wall Street Zen upgraded shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a report on Friday, May 30th. 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, Evercore ISI decreased their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $28.33.

Reynolds Consumer Products Stock Down 2.5%

REYN traded down $0.54 during midday trading on Thursday, hitting $21.48. 841,786 shares of the company's stock traded hands, compared to its average volume of 651,170. The company has a market cap of $4.52 billion, a PE ratio of 12.79 and a beta of 0.61. The stock's fifty day simple moving average is $23.08 and its 200-day simple moving average is $25.05. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. Reynolds Consumer Products Inc. has a one year low of $21.45 and a one year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, meeting analysts' consensus estimates of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. During the same quarter last year, the firm posted $0.23 earnings per share. The company's quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend was Friday, May 16th. Reynolds Consumer Products's dividend payout ratio is 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.