Cerity Partners LLC Sells 10,765 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Cerity Partners LLC trimmed its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 47.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,917 shares of the company's stock after selling 10,765 shares during the period. Cerity Partners LLC's holdings in Reynolds Consumer Products were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in REYN. Envestnet Portfolio Solutions Inc. lifted its holdings in Reynolds Consumer Products by 4.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock worth $363,000 after buying an additional 566 shares in the last quarter. Barclays PLC boosted its position in Reynolds Consumer Products by 173.9% during the 3rd quarter. Barclays PLC now owns 63,121 shares of the company's stock worth $1,963,000 after acquiring an additional 40,075 shares during the period. Proficio Capital Partners LLC acquired a new position in Reynolds Consumer Products during the 4th quarter worth $424,000. Charles Schwab Investment Management Inc. raised its stake in shares of Reynolds Consumer Products by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company's stock worth $15,976,000 after buying an additional 19,044 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Reynolds Consumer Products by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company's stock worth $157,704,000 after buying an additional 17,756 shares in the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

REYN has been the topic of several recent analyst reports. Barclays dropped 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. Stifel Nicolaus decreased their price target 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. Truist Financial lowered 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 research note on Thursday, April 24th. Evercore ISI cut their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Finally, UBS Group lowered their price target on shares of Reynolds Consumer Products from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $28.56.

Insider Buying and Selling at Reynolds Consumer Products

In related news, Director Rolf Stangl purchased 6,000 shares of Reynolds Consumer Products stock in a transaction on Monday, February 10th. The shares were purchased at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the transaction, the director now owns 16,889 shares of the company's stock, valued at approximately $420,367.21. This represents a 55.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.15% of the company's stock.

Reynolds Consumer Products Price Performance

Shares of NASDAQ REYN traded up $0.20 during trading hours on Tuesday, hitting $23.56. 83,919 shares of the stock were exchanged, compared to its average volume of 606,924. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The company has a market cap of $4.96 billion, a PE ratio of 14.02 and a beta of 0.64. The company's fifty day simple moving average is $23.77 and its two-hundred day simple moving average is $26.13. Reynolds Consumer Products Inc. has a 1-year low of $21.90 and a 1-year high of $32.65.

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, hitting analysts' consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. On average, sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.23 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.90%. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 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.