JPMorgan Chase & Co. Sells 93,160 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

JPMorgan Chase & Co. lessened its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 46.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,827 shares of the company's stock after selling 93,160 shares during the quarter. JPMorgan Chase & Co. owned 0.05% of Reynolds Consumer Products worth $2,856,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of REYN. Barclays PLC boosted its holdings in shares of Reynolds Consumer Products by 173.9% in the 3rd quarter. Barclays PLC now owns 63,121 shares of the company's stock valued at $1,963,000 after purchasing an additional 40,075 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Reynolds Consumer Products in the 3rd quarter valued at $538,000. Eagle Bay Advisors LLC acquired a new stake in shares of Reynolds Consumer Products in the 4th quarter valued at $40,000. Oak Thistle LLC boosted its holdings in shares of Reynolds Consumer Products by 66.5% in the 4th quarter. Oak Thistle LLC now owns 11,797 shares of the company's stock valued at $318,000 after purchasing an additional 4,710 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of Reynolds Consumer Products by 8.0% in the 4th quarter. Park Avenue Securities LLC now owns 14,864 shares of the company's stock valued at $401,000 after purchasing an additional 1,105 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.

Insider Transactions at Reynolds Consumer Products

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

Reynolds Consumer Products Trading Up 0.6 %

NASDAQ:REYN traded up $0.14 during trading hours on Monday, hitting $23.36. 696,862 shares of the company were exchanged, compared to its average volume of 608,902. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 13.90 and a beta of 0.64. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. Reynolds Consumer Products Inc. has a one year low of $21.90 and a one year high of $32.65. The company has a fifty day simple moving average of $23.77 and a 200 day simple moving average of $26.13.

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

Reynolds Consumer Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Friday, May 16th. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 54.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on REYN shares. JPMorgan Chase & Co. reduced their target price on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Barclays cut their price objective 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. Truist Financial cut their price objective on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday. UBS Group cut their price objective on Reynolds Consumer Products from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Canaccord Genuity Group cut their price objective on Reynolds Consumer Products from $30.00 to $27.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $28.56.

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.