Squarepoint Ops LLC Sells 87,874 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Squarepoint Ops LLC trimmed its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 72.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,601 shares of the company's stock after selling 87,874 shares during the quarter. Squarepoint Ops LLC's holdings in Reynolds Consumer Products were worth $907,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of REYN. Ariel Investments LLC raised its stake in shares of Reynolds Consumer Products by 6.1% in the fourth quarter. Ariel Investments LLC now owns 7,446 shares of the company's stock worth $201,000 after purchasing an additional 426 shares during the last quarter. Isthmus Partners LLC lifted its stake in Reynolds Consumer Products by 0.6% during the 4th quarter. Isthmus Partners LLC now owns 87,307 shares of the company's stock valued at $2,356,000 after acquiring an additional 533 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Reynolds Consumer Products by 4.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock worth $363,000 after acquiring an additional 566 shares during the last quarter. Blue Trust Inc. grew its stake 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 in the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in shares of Reynolds Consumer Products by 5.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company's stock worth $443,000 after acquiring an additional 814 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on REYN shares. Canaccord Genuity Group dropped their price target on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. UBS Group reduced their price target 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. Evercore ISI decreased their price objective 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. Barclays reduced their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $28.33.

Insiders Place Their Bets

In other Reynolds Consumer Products news, CAO Chris Mayrhofer bought 5,048 shares of the firm's stock in a transaction on Friday, May 30th. The stock was acquired at an average price of $21.99 per share, with a total value of $111,005.52. Following the completion of the purchase, the chief accounting officer now owns 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 SEC, which can be accessed through this hyperlink. Also, Director Rolf Stangl purchased 2,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $23.22 per share, for a total transaction of $58,050.00. Following the purchase, the director now owns 19,389 shares in the company, valued at $450,212.58. This represents a 14.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 25,766 shares of company stock worth $572,402 over the last three months. Company insiders own 0.15% of the company's stock.

Reynolds Consumer Products Price Performance

Shares of REYN remained flat at $21.90 during trading hours on Tuesday. The stock had a trading volume of 1,337,658 shares, compared to its average volume of 648,199. Reynolds Consumer Products Inc. has a 1 year low of $21.50 and a 1 year high of $32.65. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The company's 50-day moving average is $23.15 and its 200 day moving average is $25.10. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 13.04 and a beta of 0.61.

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

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Friday, May 16th. Reynolds Consumer Products's payout ratio is currently 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.