Marshall Wace LLP Sells 445,815 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Marshall Wace LLP lowered its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 88.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,024 shares of the company's stock after selling 445,815 shares during the period. Marshall Wace LLP's holdings in Reynolds Consumer Products were worth $1,620,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ceredex Value Advisors LLC raised its position in shares of Reynolds Consumer Products by 58.1% in the 4th quarter. Ceredex Value Advisors LLC now owns 468,360 shares of the company's stock worth $12,641,000 after acquiring an additional 172,136 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in Reynolds Consumer Products in the fourth quarter worth $212,000. Raymond James Financial Inc. bought a new position in Reynolds Consumer Products in the fourth quarter worth $528,000. Martingale Asset Management L P lifted its position in Reynolds Consumer Products by 7.3% during the fourth quarter. Martingale Asset Management L P now owns 81,002 shares of the company's stock valued at $2,186,000 after buying an additional 5,527 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Reynolds Consumer Products by 6.6% during the 4th quarter. Invesco Ltd. now owns 141,726 shares of the company's stock valued at $3,825,000 after buying an additional 8,768 shares in the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

REYN has been the subject of several research reports. UBS Group decreased 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 note on Thursday. Stifel Nicolaus lowered their target price 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. Royal Bank of Canada reissued a "sector perform" rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Evercore ISI reduced their price objective on 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. Finally, Truist Financial dropped their target price on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $28.33.

Insider Buying and Selling

In other news, Director Rolf Stangl purchased 6,000 shares of the company's stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the purchase, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. This represents a 55.10 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Reynolds Consumer Products Stock Up 2.1 %

REYN traded up $0.48 during trading on Friday, hitting $23.31. 823,736 shares of the company's stock traded hands, compared to its average volume of 617,307. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 13.88 and a beta of 0.61. The company's 50 day simple moving average is $23.65 and its two-hundred day simple moving average is $25.92. Reynolds Consumer Products Inc. has a 12-month low of $21.90 and a 12-month 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.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The company had revenue of $801.00 million for the quarter, compared to analysts' expectations of $821.99 million. During the same period last year, the firm posted $0.23 earnings per share. Reynolds Consumer Products's revenue was down 1.8% compared to the same quarter last year. 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. Investors 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 dividend on an annualized basis and a yield of 3.95%. Reynolds Consumer Products's dividend payout ratio (DPR) is 57.50%.

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.