Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lowered its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 47.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,917 shares of the company’s stock after selling 10,765 shares during the quarter. Cerity Partners LLC’s holdings in Reynolds Consumer Products were worth $339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. lifted its position in shares of Reynolds Consumer Products by 115.2% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after purchasing an additional 698 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Reynolds Consumer Products during the 4th quarter worth about $40,000. Farther Finance Advisors LLC raised its position in Reynolds Consumer Products by 667.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock valued at $70,000 after purchasing an additional 2,248 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Reynolds Consumer Products by 36.0% during 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 in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Reynolds Consumer Products during the fourth quarter worth approximately $165,000. 26.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $32.00 target price on shares of Reynolds Consumer Products in a research report on Monday, February 3rd. Canaccord Genuity Group decreased their target price on Reynolds Consumer Products from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Wednesday. Barclays reduced their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. UBS Group dropped their target price on Reynolds Consumer Products from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, Evercore ISI reduced their price objective on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.63.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl bought 6,000 shares of Reynolds Consumer Products stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the acquisition, the director now owns 16,889 shares of the company’s stock, valued at $420,367.21. The trade was a 55.10 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by insiders.

Reynolds Consumer Products Trading Down 2.0 %

NASDAQ:REYN opened at $23.61 on Thursday. 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 capitalization of $4.97 billion, a PE ratio of 14.05 and a beta of 0.64. The stock has a fifty day simple moving average of $23.80 and a 200-day simple moving average of $26.31.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share 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, equities research analysts expect 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 announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date was Friday, February 14th. Reynolds Consumer Products’s payout ratio is currently 54.76%.

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.