SG Americas Securities LLC Sells 32,399 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

SG Americas Securities LLC decreased its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 82.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,858 shares of the company's stock after selling 32,399 shares during the period. SG Americas Securities LLC's holdings in Reynolds Consumer Products were worth $184,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of REYN. Comerica Bank acquired a new stake in shares of Reynolds Consumer Products in the 2nd quarter valued at $3,777,000. FMR LLC boosted its stake in shares of Reynolds Consumer Products by 7.4% during the 3rd quarter. FMR LLC now owns 6,454,619 shares of the company's stock worth $165,432,000 after acquiring an additional 442,654 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Reynolds Consumer Products by 840.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 131,324 shares of the company's stock valued at $3,366,000 after acquiring an additional 117,364 shares during the last quarter. Barclays PLC raised its stake in shares of Reynolds Consumer Products by 2.3% in the 3rd quarter. Barclays PLC now owns 27,586 shares of the company's stock valued at $707,000 after acquiring an additional 632 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Reynolds Consumer Products by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 485,895 shares of the company's stock worth $12,453,000 after purchasing an additional 22,071 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company's stock.

Reynolds Consumer Products Price Performance

NASDAQ REYN traded down $0.29 during trading on Monday, reaching $27.97. 615,150 shares of the company traded hands, compared to its average volume of 601,469. Reynolds Consumer Products Inc. has a 1-year low of $24.80 and a 1-year high of $30.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.08 and a current ratio of 2.18. The stock's 50 day moving average price is $28.71 and its two-hundred day moving average price is $27.22. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 19.70 and a beta of 0.49.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company posted $0.53 earnings per share. The business's revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, analysts anticipate that Reynolds Consumer Products Inc. will post 1.61 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Wednesday, February 14th. Reynolds Consumer Products's payout ratio is currently 64.79%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on REYN shares. Royal Bank of Canada restated a "sector perform" rating and issued a $31.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price objective on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, February 8th. Barclays raised their target price on Reynolds Consumer Products from $27.00 to $28.00 and gave the company an "equal weight" rating in a report on Friday. Stifel Nicolaus restated a "hold" rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Finally, TheStreet upgraded shares of Reynolds Consumer Products from a "c+" rating to a "b-" rating in a research note on Thursday, February 1st. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $29.80.

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.