Two Sigma Investments LP lessened its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 58.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 134,665 shares of the company's stock after selling 193,148 shares during the quarter. Two Sigma Investments LP owned 0.06% of Reynolds Consumer Products worth $3,635,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its position 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 valued at $351,564,000 after acquiring an additional 182,353 shares during the period. Vanguard Group Inc. boosted its position in shares of Reynolds Consumer Products by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company's stock valued at $157,704,000 after acquiring an additional 17,756 shares during the period. Dimensional Fund Advisors LP raised its stake in Reynolds Consumer Products by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company's stock valued at $63,586,000 after purchasing an additional 275,601 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Reynolds Consumer Products by 13.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company's stock valued at $32,707,000 after purchasing an additional 139,576 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Reynolds Consumer Products by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,072,422 shares of the company's stock valued at $28,953,000 after purchasing an additional 26,664 shares in the last quarter. Institutional investors own 26.81% of the company's stock.
Analyst Ratings Changes
A number of research firms recently commented on REYN. Stifel Nicolaus dropped their price target on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Wall Street Zen raised Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research note on Friday. JPMorgan Chase & Co. dropped their price target on 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. Canaccord Genuity Group dropped their price target on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Finally, Evercore ISI dropped their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Reynolds Consumer Products presently has a consensus rating of "Hold" and a consensus target price of $28.33.
Get Our Latest Stock Report on Reynolds Consumer Products
Insider Transactions at Reynolds Consumer Products
In related news, Director Rolf Stangl bought 2,500 shares of Reynolds Consumer Products stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the acquisition, the director now directly owns 19,389 shares of the company's stock, valued at approximately $450,212.58. The trade was a 14.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Chris Mayrhofer bought 5,048 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, May 30th. The stock was bought at an average price of $21.99 per share, for a total transaction of $111,005.52. Following the completion of the acquisition, the chief accounting officer now directly owns 23,266 shares of the company's stock, valued at $511,619.34. The trade was a 27.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 25,766 shares of company stock worth $572,402. Insiders own 0.15% of the company's stock.
Reynolds Consumer Products Stock Performance
NASDAQ REYN remained flat at $21.90 during trading on Tuesday. The company's stock had a trading volume of 1,337,658 shares, compared to its average volume of 648,873. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The stock has a market capitalization of $4.61 billion, a P/E ratio of 13.04 and a beta of 0.61. Reynolds Consumer Products Inc. has a 12-month low of $21.49 and a 12-month high of $32.65. The firm's fifty day moving average price is $23.11 and its 200 day moving average price is $25.07.
Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. The company had revenue of $801.00 million for the quarter, compared to analysts' expectations 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 period in the previous year, the business posted $0.23 earnings per share. Analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.
Reynolds Consumer Products Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Friday, May 16th. Reynolds Consumer Products's dividend payout ratio (DPR) is currently 57.50%.
About Reynolds Consumer Products
(
Free Report)
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.
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