Two Sigma Advisers LP Sells 19,900 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Two Sigma Advisers LP lessened its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,300 shares of the company's stock after selling 19,900 shares during the quarter. Two Sigma Advisers LP owned approximately 0.05% of Reynolds Consumer Products worth $2,869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of REYN. Norges Bank purchased a new stake in Reynolds Consumer Products in the fourth quarter worth about $17,964,000. Dimensional Fund Advisors LP boosted its position in shares of Reynolds Consumer Products by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company's stock worth $63,586,000 after purchasing an additional 275,601 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Reynolds Consumer Products by 1.4% in the 4th 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 last quarter. Ceredex Value Advisors LLC increased its position in Reynolds Consumer Products by 58.1% during the 4th quarter. Ceredex Value Advisors LLC now owns 468,360 shares of the company's stock valued at $12,641,000 after buying an additional 172,136 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Reynolds Consumer Products by 13.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company's stock valued at $32,707,000 after buying an additional 139,576 shares in the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on REYN shares. Wall Street Zen upgraded shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research note on Friday. Stifel Nicolaus decreased their price objective 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. 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 reissued a "sector perform" rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a report on Monday, April 28th. Finally, 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. Seven investment 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.com, the company has a consensus rating of "Hold" and an average target price of $28.33.

Reynolds Consumer Products Price Performance

REYN traded down $0.10 during trading on Friday, hitting $22.19. 1,327,969 shares of the company traded hands, compared to its average volume of 643,502. The company has a market cap of $4.67 billion, a PE ratio of 13.21 and a beta of 0.61. The stock's 50-day simple moving average is $23.18 and its two-hundred day simple moving average is $25.13. 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 Inc. has a 1 year low of $21.63 and a 1 year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, hitting analysts' consensus estimates of $0.23. The company had revenue of $801.00 million for the quarter, compared to the consensus estimate of $821.99 million. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. As a group, sell-side 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 announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.23 per share. 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 4.15%. Reynolds Consumer Products's dividend payout ratio is currently 57.50%.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl acquired 2,500 shares of the stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the transaction, the director now directly owns 19,389 shares of the company's stock, valued at $450,212.58. This trade represents a 14.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Chris Mayrhofer bought 18,218 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were acquired at an average price of $22.14 per share, for a total transaction of $403,346.52. Following the completion of the transaction, the chief accounting officer now directly owns 18,218 shares in the company, valued at approximately $403,346.52. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 25,766 shares of company stock valued at $572,402. 0.15% of the stock is owned by corporate insiders.

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.