Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. cut its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 56.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,311 shares of the company's stock after selling 240,028 shares during the period. Balyasny Asset Management L.P. owned approximately 0.09% of Reynolds Consumer Products worth $5,002,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of REYN. Blue Trust Inc. lifted its holdings 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 last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Reynolds Consumer Products during the 4th quarter worth $40,000. Quarry LP increased its position in shares of Reynolds Consumer Products by 187.0% during the 4th quarter. Quarry LP now owns 2,531 shares of the company's stock worth $68,000 after purchasing an additional 1,649 shares during the last quarter. Farther Finance Advisors LLC lifted its position 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 buying an additional 2,248 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position 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 buying an additional 921 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

REYN has been the topic of several recent analyst reports. Truist Financial decreased their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus dropped their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. UBS Group decreased their target price on Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Evercore ISI dropped their target price 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, JPMorgan Chase & Co. reduced their price target on shares of 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. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $28.33.

Reynolds Consumer Products Price Performance

Shares of REYN opened at $23.10 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. Reynolds Consumer Products Inc. has a 1-year low of $21.90 and a 1-year high of $32.65. The stock has a market cap of $4.86 billion, a PE ratio of 13.75 and a beta of 0.61. The firm has a fifty day moving average price of $23.52 and a 200 day moving average price of $25.71.

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

Reynolds Consumer Products Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Rolf Stangl purchased 2,500 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average price of $23.22 per share, for a total transaction of $58,050.00. Following the acquisition, the director now directly owns 19,389 shares of the company's stock, valued at $450,212.58. This trade represents a 14.80 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by insiders.

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.

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