Renaissance Technologies LLC Decreases Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Renaissance Technologies LLC lowered its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 35.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 213,300 shares of the company's stock after selling 117,600 shares during the period. Renaissance Technologies LLC owned 0.10% of Reynolds Consumer Products worth $5,757,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of REYN. Norges Bank acquired a new position in Reynolds Consumer Products in the fourth quarter valued at $17,964,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Reynolds Consumer Products by 1.4% in the 4th 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 period. Bank of New York Mellon Corp boosted 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 valued at $32,707,000 after purchasing an additional 139,576 shares in the last quarter. ExodusPoint Capital Management LP grew its stake in Reynolds Consumer Products by 143.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 203,290 shares of the company's stock worth $5,487,000 after purchasing an additional 119,911 shares during the period. Finally, KBC Group NV acquired a new stake in Reynolds Consumer Products during the fourth quarter worth approximately $2,903,000. 26.81% of the stock is owned by institutional investors.

Reynolds Consumer Products Stock Down 0.9 %

REYN traded down $0.20 during midday trading on Thursday, reaching $23.40. 88,847 shares of the company were exchanged, compared to its average volume of 603,359. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 13.93 and a beta of 0.64. Reynolds Consumer Products Inc. has a one year low of $21.90 and a one year high of $32.65. The company's fifty day moving average price is $23.80 and its 200 day moving average price is $26.31. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share 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%. As a group, analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.93%. The ex-dividend date was Friday, February 14th. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 54.76%.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl bought 6,000 shares of Reynolds Consumer Products stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $24.89 per share, with a total value of $149,340.00. Following the completion of the acquisition, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. The trade was a 55.10 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on REYN. Barclays cut their price target on Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus reduced their price target 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. Evercore ISI dropped their price objective on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada restated a "sector perform" rating and issued a $32.00 target price on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price target on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $28.63.

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.