American Century Companies Inc. Sells 61,620 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

American Century Companies Inc. cut its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 75.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,819 shares of the company's stock after selling 61,620 shares during the quarter. American Century Companies Inc.'s holdings in Reynolds Consumer Products were worth $535,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Summit Global Investments bought a new position in shares of Reynolds Consumer Products during the 4th quarter worth $298,000. Envestnet Portfolio Solutions Inc. boosted its position in Reynolds Consumer Products by 4.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock worth $363,000 after purchasing an additional 566 shares during the period. Swiss National Bank raised its position in shares of Reynolds Consumer Products by 0.7% in the fourth quarter. Swiss National Bank now owns 124,000 shares of the company's stock valued at $3,347,000 after purchasing an additional 900 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Reynolds Consumer Products by 19.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 334,535 shares of the company's stock worth $9,029,000 after buying an additional 54,203 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Reynolds Consumer Products by 667.1% in the 4th 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. 26.81% of the stock is currently owned by institutional investors.

Reynolds Consumer Products Trading Up 1.4 %

NASDAQ:REYN traded up $0.33 during mid-day trading on Thursday, reaching $23.43. 109,318 shares of the company's stock traded hands, compared to its average volume of 699,669. Reynolds Consumer Products Inc. has a 12-month low of $21.90 and a 12-month high of $32.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. The company has a 50 day moving average price of $23.87 and a 200-day moving average price of $26.54. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 13.95 and a beta of 0.64.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 EPS 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%. On average, sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Friday, February 14th. Reynolds Consumer Products's payout ratio is currently 54.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $32.00 target price on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Barclays decreased their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut their price objective on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Stifel Nicolaus decreased their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group reduced their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $29.38.

Insider Buying and Selling at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 6,000 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the transaction, the director now directly owns 16,889 shares of the company's stock, valued at $420,367.21. This trade represents a 55.10 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

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.