Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 59.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,050 shares of the company’s stock after selling 101,056 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Reynolds Consumer Products were worth $1,891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of REYN. Norges Bank purchased a new position in Reynolds Consumer Products during the fourth quarter worth about $17,964,000. Allspring Global Investments Holdings LLC lifted its stake in Reynolds Consumer Products by 1.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after purchasing an additional 182,353 shares in the last quarter. Jane Street Group LLC lifted its stake in Reynolds Consumer Products by 758.9% during the 3rd quarter. Jane Street Group LLC now owns 167,722 shares of the company’s stock worth $5,216,000 after acquiring an additional 148,194 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Reynolds Consumer Products by 13.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock worth $32,707,000 after purchasing an additional 139,576 shares in the last quarter. Finally, KBC Group NV acquired a new stake in Reynolds Consumer Products during the 4th quarter worth approximately $2,903,000. 26.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group decreased their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. decreased their target price on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus decreased their price target on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday. Canaccord Genuity Group lowered their target price on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Finally, 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 report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Reynolds Consumer Products has an average rating of “Hold” and an average price target of $29.88.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ:REYN opened at $23.28 on Friday. The company has a market cap of $4.90 billion, a P/E ratio of 13.86 and a beta of 0.64. The business’s 50-day simple moving average is $24.07 and its 200 day simple moving average is $26.71. 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 Inc. has a one year low of $21.90 and a one year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. On average, sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.23 per share. The ex-dividend date was Friday, February 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.95%. Reynolds Consumer Products’s dividend payout ratio is currently 54.76%.

Insiders Place Their Bets

In other news, Director Rolf Stangl bought 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average price of $24.89 per share, with a total value of $149,340.00. Following the completion of the acquisition, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by insiders.

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.