Voloridge Investment Management LLC Sells 159,580 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Voloridge Investment Management LLC lowered its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 94.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,774 shares of the company's stock after selling 159,580 shares during the period. Voloridge Investment Management LLC's holdings in Reynolds Consumer Products were worth $237,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. 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 valued at $35,000 after acquiring an additional 698 shares during the period. Quarry LP lifted its stake 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 buying an additional 1,649 shares during the period. Farther Finance Advisors LLC boosted its stake in 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 buying an additional 2,248 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Reynolds Consumer Products by 36.0% during the 4th 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 last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Reynolds Consumer Products during the fourth quarter valued at approximately $165,000. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Reynolds Consumer Products Trading Up 0.5%

NASDAQ REYN traded up $0.12 on Wednesday, reaching $22.02. The company had a trading volume of 864,805 shares, compared to its average volume of 650,408. The stock's 50 day moving average is $23.08 and its 200-day moving average is $25.05. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 13.11 and a beta of 0.61. Reynolds Consumer Products Inc. has a 52 week low of $21.49 and a 52 week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share 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 business had revenue of $801.00 million during the quarter, compared to the consensus estimate of $821.99 million. During the same quarter last year, the firm earned $0.23 earnings per share. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. Equities analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.23 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 4.18%. Reynolds Consumer Products's dividend payout ratio (DPR) is 57.50%.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 2,500 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the acquisition, the director now owns 19,389 shares of the company's stock, valued at approximately $450,212.58. This trade represents a 14.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Chris Mayrhofer bought 5,048 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were acquired at an average cost of $21.99 per share, with a total value of $111,005.52. Following the completion of the transaction, the chief accounting officer now owns 23,266 shares of the company's stock, valued at $511,619.34. This 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 acquired 25,766 shares of company stock valued at $572,402. Corporate insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on REYN shares. Canaccord Genuity Group dropped their price objective 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. Barclays cut their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research note on Monday, April 28th. UBS Group cut their target price on 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. Finally, Stifel Nicolaus dropped their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Seven 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, the company presently has an average rating of "Hold" and a consensus target price of $28.33.

Reynolds Consumer Products Company 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.