Graham Capital Management L.P. Sells 11,888 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Graham Capital Management L.P. trimmed its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 19.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,206 shares of the company's stock after selling 11,888 shares during the quarter. Graham Capital Management L.P.'s holdings in Reynolds Consumer Products were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its holdings in 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 last quarter. Eagle Bay Advisors LLC acquired a new position in Reynolds Consumer Products in the fourth quarter worth approximately $40,000. Quarry LP raised its position in shares of Reynolds Consumer Products by 187.0% in the fourth quarter. Quarry LP now owns 2,531 shares of the company's stock valued at $68,000 after purchasing an additional 1,649 shares during the period. Farther Finance Advisors LLC raised its position in shares of Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock valued at $70,000 after purchasing an additional 2,248 shares during the period. Finally, Venturi Wealth Management LLC raised its position 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 valued at $94,000 after purchasing an additional 921 shares during the period. 26.81% of the stock is owned by hedge funds and other institutional investors.

Reynolds Consumer Products Stock Performance

REYN traded down $0.09 during trading on Friday, reaching $23.11. 1,118,224 shares of the company's stock were exchanged, compared to its average volume of 628,095. Reynolds Consumer Products Inc. has a fifty-two week low of $21.90 and a fifty-two week high of $32.65. 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 business has a 50 day moving average price of $23.42 and a 200 day moving average price of $25.51. The company has a market capitalization of $4.86 billion, a P/E ratio of 13.76 and a beta of 0.61.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.23. The company had revenue of $801.00 million during 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 revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $0.23 earnings per share. As a group, analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.98%. Reynolds Consumer Products's payout ratio is presently 57.50%.

Insider Buying and Selling at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average cost of $23.22 per share, with a total value 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 $450,212.58. This represents a 14.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

REYN has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Canaccord Genuity Group lowered their price objective on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Royal Bank of Canada restated a "sector perform" rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Truist Financial lowered their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Stifel Nicolaus lowered their price objective on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.