Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by State Street Corp

State Street Corp reduced its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,001,142 shares of the company’s stock after selling 39,531 shares during the quarter. State Street Corp’s holdings in Reynolds Consumer Products were worth $31,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in REYN. Sei Investments Co. increased its stake in shares of Reynolds Consumer Products by 18.5% during the 2nd quarter. Sei Investments Co. now owns 612,775 shares of the company’s stock valued at $17,146,000 after acquiring an additional 95,469 shares during the last quarter. ARGA Investment Management LP purchased a new stake in Reynolds Consumer Products in the third quarter valued at approximately $751,000. Bank of New York Mellon Corp increased its position in Reynolds Consumer Products by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company’s stock worth $28,166,000 after purchasing an additional 66,826 shares during the last quarter. Pacer Advisors Inc. raised its stake in Reynolds Consumer Products by 48.6% during the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock worth $108,845,000 after purchasing an additional 1,272,353 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Reynolds Consumer Products by 62.5% during the second quarter. Acadian Asset Management LLC now owns 345,696 shares of the company’s stock worth $9,662,000 after purchasing an additional 133,002 shares during the period. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Helen Golding bought 1,190 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the transaction, the director now owns 1,190 shares in the company, valued at $32,820.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rolf Stangl purchased 3,682 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average cost of $27.50 per share, with a total value of $101,255.00. Following the acquisition, the director now directly owns 10,889 shares of the company’s stock, valued at $299,447.50. The trade was a 51.09 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 12,079 shares of company stock worth $330,466 in the last 90 days. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on REYN. Barclays dropped their price objective on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group started coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.17.

Reynolds Consumer Products Price Performance

Reynolds Consumer Products stock opened at $27.61 on Friday. The firm has a fifty day moving average of $28.22 and a 200-day moving average of $28.98. Reynolds Consumer Products Inc. has a 52-week low of $26.45 and a 52-week high of $32.65. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $5.80 billion, a P/E ratio of 15.78 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $910.00 million during the quarter, compared to analyst estimates of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 earnings per share. As a group, analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 52.57%.

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.