D. E. Shaw & Co. Inc. Sells 141,065 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

D. E. Shaw & Co. Inc. lessened its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 63.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,095 shares of the company’s stock after selling 141,065 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Reynolds Consumer Products were worth $2,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in Reynolds Consumer Products by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after acquiring an additional 182,353 shares during the last quarter. Vanguard Group Inc. increased its stake in Reynolds Consumer Products by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company’s stock worth $157,704,000 after acquiring an additional 17,756 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Reynolds Consumer Products by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company’s stock worth $63,586,000 after acquiring an additional 275,601 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Reynolds Consumer Products by 13.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock worth $32,707,000 after acquiring an additional 139,576 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Reynolds Consumer Products by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,072,422 shares of the company’s stock worth $28,953,000 after acquiring an additional 26,664 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Canaccord Genuity Group reduced their price objective on Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus cut their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. cut their target price on Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Barclays cut their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, UBS Group cut their target price on Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.33.

Reynolds Consumer Products Price Performance

REYN opened at $23.10 on Wednesday. The business has a fifty day moving average of $23.41 and a 200 day moving average of $25.44. Reynolds Consumer Products Inc. has a 52-week low of $21.90 and a 52-week high of $32.65. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. The stock has a market cap of $4.86 billion, a P/E ratio of 13.75 and a beta of 0.61.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The company had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $821.99 million. During the same quarter in the previous year, the business earned $0.23 EPS. Reynolds Consumer Products’s revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Friday, May 16th. Reynolds Consumer Products’s dividend payout ratio is 57.50%.

Insiders Place Their Bets

In other news, Director Rolf Stangl bought 2,500 shares of the stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of $23.22 per share, for a total transaction of $58,050.00. Following the acquisition, the director now owns 19,389 shares of the company’s stock, valued at $450,212.58. This represents a 14.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

About Reynolds Consumer Products

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.