Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC decreased its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 316,636 shares of the company's stock after selling 39,913 shares during the quarter. Gotham Asset Management LLC owned about 0.15% of Reynolds Consumer Products worth $8,546,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Ariel Investments LLC boosted its stake in Reynolds Consumer Products by 6.1% during the fourth quarter. Ariel Investments LLC now owns 7,446 shares of the company's stock worth $201,000 after buying an additional 426 shares during the period. Isthmus Partners LLC raised its holdings in Reynolds Consumer Products by 0.6% in the fourth quarter. Isthmus Partners LLC now owns 87,307 shares of the company's stock valued at $2,356,000 after acquiring an additional 533 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Reynolds Consumer Products by 4.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock worth $363,000 after purchasing an additional 566 shares in the last quarter. Blue Trust Inc. raised its holdings in Reynolds Consumer Products by 115.2% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after purchasing an additional 698 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in Reynolds Consumer Products by 5.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company's stock worth $443,000 after purchasing an additional 814 shares in the last quarter. Hedge funds and other institutional investors own 26.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays lowered their target price on shares of 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. Truist Financial reduced their target price on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus cut 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. Canaccord Genuity Group cut their target price on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Reynolds Consumer Products has a consensus rating of "Hold" and an average target price of $28.33.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 2,500 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price 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 in the company, valued at $450,212.58. This trade represents a 14.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

Reynolds Consumer Products Trading Down 0.4%

Shares of NASDAQ:REYN traded down $0.09 during trading on Friday, reaching $23.11. 1,118,224 shares of the stock were exchanged, compared to its average volume of 628,095. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 13.76 and a beta of 0.61. Reynolds Consumer Products Inc. has a 12-month low of $21.90 and a 12-month high of $32.65. The firm's 50-day moving average price is $23.42 and its 200 day moving average price is $25.51. 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 released its earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $801.00 million during the quarter, compared to analysts' expectations of $821.99 million. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The business's revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS. On average, sell-side analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

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

Reynolds Consumer Products 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.