Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 25.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,705 shares of the company's stock after selling 23,377 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Reynolds Consumer Products were worth $1,894,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Park Avenue Securities LLC lifted its position in shares of Reynolds Consumer Products by 2.8% in the 1st quarter. Park Avenue Securities LLC now owns 12,959 shares of the company's stock worth $370,000 after buying an additional 359 shares during the last quarter. Ariel Investments LLC lifted its holdings in Reynolds Consumer Products by 7.0% in the first quarter. Ariel Investments LLC now owns 7,136 shares of the company's stock worth $204,000 after acquiring an additional 466 shares during the last quarter. Covestor Ltd boosted its stake in Reynolds Consumer Products by 15.8% in the first quarter. Covestor Ltd now owns 3,520 shares of the company's stock valued at $101,000 after acquiring an additional 480 shares during the period. Parallel Advisors LLC grew its holdings in shares of Reynolds Consumer Products by 26.9% during the fourth quarter. Parallel Advisors LLC now owns 2,288 shares of the company's stock valued at $61,000 after purchasing an additional 485 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of Reynolds Consumer Products by 4.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,181 shares of the company's stock worth $341,000 after purchasing an additional 550 shares during the period. Institutional investors and hedge funds own 26.81% of the company's stock.

Reynolds Consumer Products Price Performance

REYN traded down $1.09 on Monday, reaching $31.08. The company had a trading volume of 1,893,590 shares, compared to its average volume of 565,291. The company has a market capitalization of $6.53 billion, a P/E ratio of 19.76 and a beta of 0.48. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. The company has a fifty day moving average of $29.93 and a 200-day moving average of $28.91. Reynolds Consumer Products Inc. has a one year low of $24.80 and a one year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The business had revenue of $930.00 million during the quarter, compared to analysts' expectations of $890.71 million. During the same period last year, the firm posted $0.32 earnings per share. The business's revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 16th. This represents a $0.92 annualized dividend and a yield of 2.96%. Reynolds Consumer Products's dividend payout ratio is currently 58.60%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a "hold" rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, August 8th. Royal Bank of Canada increased their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a "sector perform" rating in a report on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They set a "buy" rating and a $38.00 target price for the company. Finally, Barclays upped their target price on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $32.00.

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.