Reynolds Consumer Products Inc. (NASDAQ:REYN) Position Lessened by Bleakley Financial Group LLC

Bleakley Financial Group LLC trimmed its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,710 shares of the company’s stock after selling 690 shares during the period. Bleakley Financial Group LLC’s holdings in Reynolds Consumer Products were worth $529,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC raised its holdings in Reynolds Consumer Products by 7.4% during the third quarter. FMR LLC now owns 6,454,619 shares of the company’s stock valued at $165,432,000 after buying an additional 442,654 shares in the last quarter. Vanguard Group Inc. raised its holdings in Reynolds Consumer Products by 0.3% during the third quarter. Vanguard Group Inc. now owns 5,607,712 shares of the company’s stock valued at $143,726,000 after buying an additional 19,527 shares in the last quarter. First Trust Advisors LP raised its holdings in Reynolds Consumer Products by 5.9% during the first quarter. First Trust Advisors LP now owns 2,805,066 shares of the company’s stock valued at $77,139,000 after buying an additional 155,206 shares in the last quarter. BlackRock Inc. raised its holdings in Reynolds Consumer Products by 0.5% during the second quarter. BlackRock Inc. now owns 2,570,003 shares of the company’s stock valued at $72,603,000 after buying an additional 13,347 shares in the last quarter. Finally, State Street Corp raised its holdings in Reynolds Consumer Products by 3.3% during the first quarter. State Street Corp now owns 958,125 shares of the company’s stock valued at $26,348,000 after buying an additional 30,914 shares in the last quarter. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Reynolds Consumer Products Stock Down 1.7 %

REYN stock opened at $28.26 on Friday. Reynolds Consumer Products Inc. has a twelve month low of $24.80 and a twelve month high of $30.54. The company has a market cap of $5.94 billion, a PE ratio of 19.90 and a beta of 0.49. The business’s 50-day simple moving average is $28.71 and its 200 day simple moving average is $27.21. 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 earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 business 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 earned $0.53 earnings per share. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, research analysts anticipate that Reynolds Consumer Products Inc. will post 1.61 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Wednesday, February 14th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 64.79%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on REYN. Stifel Nicolaus restated a “hold” rating and set a $30.00 target price on shares of Reynolds Consumer Products in a report 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. TheStreet upgraded Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Finally, Barclays lifted their price objective on Reynolds Consumer Products from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Reynolds Consumer Products presently has a consensus rating of “Hold” and an average target price of $29.80.

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.