Olstein Capital Management L.P. Sells 106,624 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Olstein Capital Management L.P. lowered its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 39.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 165,376 shares of the company's stock after selling 106,624 shares during the quarter. Olstein Capital Management L.P. owned approximately 0.08% of Reynolds Consumer Products worth $5,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of REYN. Pacer Advisors Inc. increased its position in shares of Reynolds Consumer Products by 48.6% during the 2nd quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company's stock worth $108,845,000 after purchasing an additional 1,272,353 shares during the last quarter. AQR Capital Management LLC increased its holdings in Reynolds Consumer Products by 122.7% during the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company's stock worth $43,588,000 after buying an additional 858,419 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Reynolds Consumer Products by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company's stock valued at $49,859,000 after acquiring an additional 261,513 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Reynolds Consumer Products by 994.7% in the 1st quarter. Acadian Asset Management LLC now owns 212,694 shares of the company's stock valued at $6,068,000 after acquiring an additional 193,265 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Reynolds Consumer Products by 188.8% during the 2nd quarter. American Century Companies Inc. now owns 280,137 shares of the company's stock worth $7,838,000 after purchasing an additional 183,125 shares during the last quarter. Institutional investors own 26.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a "buy" rating and a $38.00 price objective on the stock. Canaccord Genuity Group increased their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a "hold" rating in a report on Thursday, August 8th. Barclays reduced their price objective on Reynolds Consumer Products from $29.00 to $28.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Finally, Royal Bank of Canada increased their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $32.17.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 7,207 shares of the stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $27.25 per share, with a total value of $196,390.75. Following the acquisition, the director now owns 7,207 shares of the company's stock, valued at approximately $196,390.75. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Reynolds Consumer Products Price Performance

Shares of NASDAQ REYN traded up $0.23 during midday trading on Thursday, reaching $27.41. The company's stock had a trading volume of 669,964 shares, compared to its average volume of 572,749. The company has a market cap of $5.76 billion, a P/E ratio of 15.66 and a beta of 0.50. Reynolds Consumer Products Inc. has a fifty-two week low of $25.80 and a fifty-two week high of $32.65. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. The business's 50 day moving average price is $30.40 and its two-hundred day moving average price is $29.19.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). The company had revenue of $910.00 million for the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The business's revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share. On average, analysts forecast that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 52.57%.

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.