Pinebridge Investments L.P. Has $257,000 Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Pinebridge Investments L.P. cut its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 81.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,518 shares of the company's stock after selling 40,651 shares during the period. Pinebridge Investments L.P.'s holdings in Reynolds Consumer Products were worth $257,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. grew 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. Eagle Bay Advisors LLC bought a new stake in shares of Reynolds Consumer Products in the fourth quarter valued at about $40,000. Farther Finance Advisors LLC lifted its holdings 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 in the last quarter. Venturi Wealth Management LLC lifted its holdings 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 in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Reynolds Consumer Products in the fourth quarter valued at about $165,000. 26.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on REYN shares. Stifel Nicolaus cut their price target on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. 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. Royal Bank of Canada reissued a "sector perform" rating and set a $30.00 price target on shares of Reynolds Consumer Products in a research report on Monday. JPMorgan Chase & Co. lowered their price target on 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. Finally, Barclays lowered their price target on 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $28.56.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl purchased 6,000 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price of $24.89 per share, with a total value of $149,340.00. Following the completion of the purchase, the director now directly owns 16,889 shares in the company, valued at $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a document filed 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 Price Performance

Reynolds Consumer Products stock opened at $23.36 on Tuesday. Reynolds Consumer Products Inc. has a 12 month low of $21.90 and a 12 month high of $32.65. The stock's 50 day moving average is $23.77 and its 200-day moving average is $26.13. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 13.90 and a beta of 0.64.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. Equities research analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.94%. Reynolds Consumer Products's payout ratio is 54.76%.

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.

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