Occudo Quantitative Strategies LP Has $276,000 Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Occudo Quantitative Strategies LP cut its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 85.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,232 shares of the company's stock after selling 62,092 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Reynolds Consumer Products were worth $276,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in REYN. Blue Trust Inc. boosted its stake in Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock valued at $35,000 after acquiring an additional 698 shares during the period. Quarry LP boosted its stake in 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 acquiring an additional 1,649 shares during the period. Farther Finance Advisors LLC boosted its stake in 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 acquiring an additional 2,248 shares during the period. Venturi Wealth Management LLC boosted its stake in 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 acquiring an additional 921 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in Reynolds Consumer Products in the fourth quarter valued at approximately $165,000. 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 analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Monday, April 28th. UBS Group reduced their price objective on Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Barclays reduced their price objective on Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Canaccord Genuity Group reduced their price objective on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Finally, 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. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Reynolds Consumer Products has an average rating of "Hold" and a consensus target price of $28.33.

Insider Activity at Reynolds Consumer Products

In other news, Director Rolf Stangl acquired 2,500 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $23.22 per share, with a total value of $58,050.00. Following the completion of the purchase, the director now owns 19,389 shares of the company's stock, valued at $450,212.58. This represents a 14.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock traded down $0.03 on Tuesday, reaching $23.10. 589,472 shares of the stock were exchanged, compared to its average volume of 629,953. The stock has a market cap of $4.86 billion, a PE ratio of 13.75 and a beta of 0.61. 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 Inc. has a twelve month low of $21.90 and a twelve month high of $32.65. The firm has a fifty day moving average price of $23.41 and a two-hundred day moving average price of $25.46.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, meeting analysts' consensus estimates of $0.23. The business had revenue of $801.00 million during the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. Sell-side analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.98%. Reynolds Consumer Products's payout ratio is currently 57.50%.

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.