Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 90.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,258 shares of the company's stock after selling 32,431 shares during the period. Sterling Capital Management LLC's holdings in Reynolds Consumer Products were worth $88,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after buying an additional 698 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Reynolds Consumer Products in the fourth quarter worth $40,000. Farther Finance Advisors LLC raised its holdings in shares of Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock worth $70,000 after buying an additional 2,248 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Reynolds Consumer Products by 36.0% in the fourth quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock worth $94,000 after buying an additional 921 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Reynolds Consumer Products in the fourth quarter worth $165,000. Hedge funds and other institutional investors own 26.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday. Royal Bank of Canada reissued a "sector perform" rating and set a $30.00 target price on shares of Reynolds Consumer Products in a report on Monday. JPMorgan Chase & Co. reduced their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Barclays reduced their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus reduced their target price 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $28.56.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl purchased 6,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $24.89 per share, with a total value of $149,340.00. Following the purchase, the director now owns 16,889 shares of the company's stock, valued at $420,367.21. This represents a 55.10 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.15% of the company's stock.

Reynolds Consumer Products Price Performance

Shares of REYN stock traded up $0.14 during mid-day trading on Monday, hitting $23.36. 696,862 shares of the stock were exchanged, compared to its average volume of 608,902. The firm has a fifty day moving average of $23.77 and a 200 day moving average of $26.13. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. Reynolds Consumer Products Inc. has a 52-week low of $21.90 and a 52-week high of $32.65. The company has a market cap of $4.91 billion, a PE ratio of 13.90 and a beta of 0.64.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted 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 net margin of 9.56% and a return on equity of 17.14%. Research analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.23 per share. 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 payout ratio is currently 54.76%.

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.