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

State Street Corp reduced its position 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 firm owned 1,001,142 shares of the company’s stock after selling 39,531 shares during the quarter. State Street Corp owned about 0.48% of Reynolds Consumer Products worth $31,136,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Sei Investments Co. increased its position in Reynolds Consumer Products by 18.5% in 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 period. ARGA Investment Management LP acquired a new position in shares of Reynolds Consumer Products in the third quarter valued at approximately $751,000. Bank of New York Mellon Corp increased its holdings in shares of Reynolds Consumer Products by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company’s stock valued at $28,166,000 after purchasing an additional 66,826 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of 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 lifted its holdings in shares of 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 Rolf Stangl bought 3,682 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was bought at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the transaction, the director now owns 10,889 shares in the company, valued at approximately $299,447.50. The trade was a 51.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Helen Golding purchased 1,190 shares of Reynolds Consumer Products stock in a transaction on Thursday, November 14th. The stock was acquired at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the acquisition, the director now directly owns 1,190 shares of the company’s stock, valued at approximately $32,820.20. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 12,079 shares of company stock worth $330,466. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 price objective for the company. Barclays cut their price target on shares of 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. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.17.

Reynolds Consumer Products Stock Performance

NASDAQ:REYN opened at $27.61 on Friday. The firm’s fifty day simple moving average is $28.22 and its 200-day simple moving average is $28.98. 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 stock has a market cap of $5.80 billion, a PE ratio of 15.78 and a beta of 0.50. Reynolds Consumer Products Inc. has a fifty-two week low of $26.45 and a fifty-two week high of $32.65.

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

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.92 annualized dividend and a yield of 3.33%. Reynolds Consumer Products’s dividend payout ratio 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.