California State Teachers Retirement System Sells 718 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

California State Teachers Retirement System decreased its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,331 shares of the company’s stock after selling 718 shares during the quarter. California State Teachers Retirement System’s holdings in Reynolds Consumer Products were worth $1,574,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in REYN. Jefferies Financial Group Inc. acquired a new position in shares of Reynolds Consumer Products during the fourth quarter worth approximately $496,000. Mackenzie Financial Corp acquired a new position in Reynolds Consumer Products during the 4th quarter valued at $770,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Reynolds Consumer Products by 7.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,220 shares of the company’s stock valued at $3,758,000 after purchasing an additional 9,457 shares during the period. Tidal Investments LLC boosted its holdings in Reynolds Consumer Products by 21.6% in the 4th quarter. Tidal Investments LLC now owns 32,257 shares of the company’s stock valued at $871,000 after purchasing an additional 5,733 shares during the period. Finally, State of Wyoming grew its position in Reynolds Consumer Products by 231.3% in the 4th quarter. State of Wyoming now owns 9,372 shares of the company’s stock worth $253,000 after purchasing an additional 6,543 shares during the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and set a $30.00 price target on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Stifel Nicolaus cut their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Wall Street Zen upgraded shares of Reynolds Consumer Products from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Canaccord Genuity Group lowered their price target on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Finally, Truist Financial dropped their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.33.

Insider Buying and Selling at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $23.22 per share, for a total transaction of $58,050.00. Following the transaction, the director now directly owns 19,389 shares of the company’s stock, valued at approximately $450,212.58. This trade represents a 14.80% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Chris Mayrhofer acquired 18,218 shares of Reynolds Consumer Products stock in a transaction on Thursday, May 29th. The shares were purchased at an average cost of $22.14 per share, for a total transaction of $403,346.52. Following the acquisition, the chief accounting officer now owns 18,218 shares in the company, valued at approximately $403,346.52. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 25,766 shares of company stock worth $572,402. 0.15% of the stock is currently owned by insiders.

Reynolds Consumer Products Stock Up 1.2%

Shares of NASDAQ REYN opened at $21.74 on Monday. Reynolds Consumer Products Inc. has a 52-week low of $21.45 and a 52-week high of $32.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The business has a fifty day moving average of $22.99 and a two-hundred day moving average of $24.93. The stock has a market cap of $4.57 billion, a PE ratio of 12.94 and a beta of 0.58.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The firm had revenue of $801.00 million during the quarter, compared to the consensus estimate of $821.99 million. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.23 EPS. As a group, 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 firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 4.23%. Reynolds Consumer Products’s dividend payout ratio is 57.50%.

Reynolds Consumer Products 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.