Reynolds Consumer Products Inc. (NASDAQ:REYN) Holdings Lowered by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 35.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,300 shares of the company's stock after selling 117,600 shares during the period. Renaissance Technologies LLC owned about 0.10% of Reynolds Consumer Products worth $5,757,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Blue Trust Inc. lifted its position in shares of Reynolds Consumer Products by 115.2% during the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after purchasing an additional 698 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in Reynolds Consumer Products in the 4th quarter valued at $40,000. Farther Finance Advisors LLC boosted its holdings in shares of Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock valued at $70,000 after acquiring an additional 2,248 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Reynolds Consumer Products by 36.0% in the fourth quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock valued at $94,000 after purchasing an additional 921 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Reynolds Consumer Products in the fourth quarter valued at approximately $165,000. Hedge funds and other institutional investors own 26.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of Reynolds Consumer Products from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus dropped their price objective 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. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $32.00 price target on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Evercore ISI dropped their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their price objective on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $28.63.

Reynolds Consumer Products Stock Down 2.1 %

NASDAQ REYN traded down $0.50 during trading hours on Wednesday, reaching $23.58. 300,016 shares of the company traded hands, compared to its average volume of 603,193. The stock has a market capitalization of $4.96 billion, a PE ratio of 14.03 and a beta of 0.64. Reynolds Consumer Products Inc. has a 12 month low of $21.90 and a 12 month high of $32.65. The company has a 50 day moving average of $23.81 and a two-hundred day moving average of $26.33. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79.

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

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products's dividend payout ratio (DPR) is 54.76%.

Insider Activity

In other news, Director Rolf Stangl acquired 6,000 shares of the business's stock in a transaction dated Monday, February 10th. The stock was acquired at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the acquisition, the director now directly owns 16,889 shares in the company, valued at $420,367.21. This represents a 55.10 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.15% of the company's stock.

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.