Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP reduced its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 71.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,429 shares of the company's stock after selling 25,726 shares during the quarter. Bridgewater Associates LP's holdings in Reynolds Consumer Products were worth $281,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Guggenheim Capital LLC purchased a new stake in shares of Reynolds Consumer Products in the fourth quarter worth approximately $212,000. Raymond James Financial Inc. purchased a new stake in Reynolds Consumer Products in the fourth quarter worth $528,000. Martingale Asset Management L P lifted its position in shares of Reynolds Consumer Products by 7.3% during the fourth quarter. Martingale Asset Management L P now owns 81,002 shares of the company's stock worth $2,186,000 after purchasing an additional 5,527 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Reynolds Consumer Products by 6.6% during the fourth quarter. Invesco Ltd. now owns 141,726 shares of the company's stock valued at $3,825,000 after purchasing an additional 8,768 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Reynolds Consumer Products by 8.8% in the fourth quarter. Wells Fargo & Company MN now owns 61,080 shares of the company's stock worth $1,649,000 after purchasing an additional 4,948 shares during the last quarter. Institutional investors own 26.81% of the company's stock.

Analyst Upgrades and Downgrades

REYN has been the subject of several research analyst reports. Stifel Nicolaus decreased their price target on shares of 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. JPMorgan Chase & Co. decreased their target price on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Barclays dropped their price target 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. Canaccord Genuity Group decreased their price objective on Reynolds Consumer Products from $30.00 to $27.00 and set a "hold" rating for the company in a report on Wednesday. Finally, Truist Financial lowered 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. 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 stock presently has a consensus rating of "Hold" and a consensus price target of $28.78.

Insider Activity

In other news, Director Rolf Stangl bought 6,000 shares of Reynolds Consumer Products stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the purchase, the director now directly owns 16,889 shares of the company's stock, valued at approximately $420,367.21. The trade was a 55.10 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company's stock.

Reynolds Consumer Products Stock Down 1.1 %

Shares of Reynolds Consumer Products stock traded down $0.26 during trading on Friday, reaching $23.19. The company's stock had a trading volume of 396,160 shares, compared to its average volume of 606,062. Reynolds Consumer Products Inc. has a 1-year low of $21.90 and a 1-year high of $32.65. The company has a 50-day simple moving average of $23.79 and a two-hundred day simple moving average of $26.27. 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 company has a market cap of $4.88 billion, a price-to-earnings ratio of 13.81 and a beta of 0.64.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, hitting analysts' consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. As a group, equities analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.97%. Reynolds Consumer Products's payout ratio is currently 54.76%.

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.