Raymond James & Associates Sells 5,434 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Raymond James & Associates reduced its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 21.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 20,424 shares of the company’s stock after selling 5,434 shares during the quarter. Raymond James & Associates’ holdings in Reynolds Consumer Products were worth $548,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Barclays PLC raised its position in Reynolds Consumer Products by 2.3% in the 3rd quarter. Barclays PLC now owns 27,586 shares of the company’s stock worth $707,000 after purchasing an additional 632 shares during the period. Ariel Investments LLC grew its position in shares of Reynolds Consumer Products by 11.8% in the 3rd quarter. Ariel Investments LLC now owns 6,243 shares of the company’s stock worth $160,000 after buying an additional 659 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Reynolds Consumer Products by 10.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,801 shares of the company’s stock valued at $328,000 after buying an additional 1,210 shares during the period. Swiss National Bank increased its position in Reynolds Consumer Products by 1.0% during the 3rd quarter. Swiss National Bank now owns 138,500 shares of the company’s stock valued at $3,550,000 after purchasing an additional 1,400 shares during the period. Finally, Park Avenue Securities LLC raised its stake in Reynolds Consumer Products by 13.6% in the third quarter. Park Avenue Securities LLC now owns 12,058 shares of the company’s stock worth $309,000 after buying an additional 1,443 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stifel Nicolaus reissued a “hold” rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $31.00 price target on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. JPMorgan Chase & Co. lifted their price objective on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Barclays increased their target price on Reynolds Consumer Products from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Finally, TheStreet raised Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Reynolds Consumer Products currently has an average rating of “Hold” and a consensus price target of $29.80.

Reynolds Consumer Products Stock Performance

REYN stock opened at $28.64 on Friday. Reynolds Consumer Products Inc. has a twelve month low of $24.80 and a twelve month high of $30.54. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 20.17 and a beta of 0.49. The business’s fifty day simple moving average is $28.70 and its two-hundred day simple moving average is $27.37. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 0.92.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $0.53 EPS. Reynolds Consumer Products’s quarterly revenue was down 7.5% on a year-over-year basis. Analysts predict that Reynolds Consumer Products Inc. will post 1.61 earnings per share for the current year.

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.