London Co. of Virginia Trims Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

London Co. of Virginia lowered its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,023,697 shares of the company's stock after selling 35,084 shares during the period. London Co. of Virginia owned 0.49% of Reynolds Consumer Products worth $27,630,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of REYN. Norges Bank acquired a new position in shares of Reynolds Consumer Products during the 4th quarter worth about $17,964,000. Dimensional Fund Advisors LP boosted its holdings 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. Allspring Global Investments Holdings LLC increased its stake in 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 purchasing an additional 182,353 shares during the last quarter. Ceredex Value Advisors LLC raised its holdings in Reynolds Consumer Products by 58.1% during the fourth quarter. Ceredex Value Advisors LLC now owns 468,360 shares of the company's stock worth $12,641,000 after purchasing an additional 172,136 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 worth $32,707,000 after buying an additional 139,576 shares during the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock traded up $0.52 during trading hours on Thursday, reaching $23.20. 771,648 shares of the stock were exchanged, compared to its average volume of 624,929. Reynolds Consumer Products Inc. has a 52-week low of $21.90 and a 52-week high of $32.65. The stock has a market cap of $4.88 billion, a P/E ratio of 13.81 and a beta of 0.61. 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 firm's 50 day moving average is $23.47 and its 200 day moving average is $25.60.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The firm had revenue of $801.00 million during the quarter, compared to analysts' expectations of $821.99 million. During the same period in the prior year, the company posted $0.23 earnings per share. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. Analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, May 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.97%. Reynolds Consumer Products's payout ratio is currently 57.50%.

Wall Street Analysts Forecast Growth

REYN has been the topic of a number of recent analyst reports. Barclays dropped their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. lowered their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Evercore ISI reduced their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. UBS Group lowered their price objective 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. Finally, Canaccord Genuity Group reduced their target price on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, May 1st. 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 company presently has an average rating of "Hold" and an average price target of $28.33.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 2,500 shares of the stock in a transaction dated 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 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 filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.15% of the company's stock.

About Reynolds Consumer Products

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.