Arrowstreet Capital Limited Partnership Decreases Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Arrowstreet Capital Limited Partnership lessened its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 59.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,050 shares of the company's stock after selling 101,056 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Reynolds Consumer Products were worth $1,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of REYN. Envestnet Portfolio Solutions Inc. raised its holdings in Reynolds Consumer Products by 4.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock worth $363,000 after buying an additional 566 shares during the last quarter. Barclays PLC increased its position in shares of Reynolds Consumer Products by 173.9% during the third quarter. Barclays PLC now owns 63,121 shares of the company's stock valued at $1,963,000 after acquiring an additional 40,075 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Reynolds Consumer Products in the 4th quarter valued at approximately $424,000. Charles Schwab Investment Management Inc. lifted its position in Reynolds Consumer Products by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company's stock valued at $15,976,000 after acquiring an additional 19,044 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Reynolds Consumer Products by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company's stock valued at $157,704,000 after purchasing an additional 17,756 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on REYN. Evercore ISI lowered their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Barclays lowered their target price 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. Stifel Nicolaus reduced 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. UBS Group lowered their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Finally, Canaccord Genuity Group cut their target price on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $29.38.

Reynolds Consumer Products Stock Performance

NASDAQ:REYN traded down $0.02 during mid-day trading on Wednesday, hitting $23.59. 24,164 shares of the company traded hands, compared to its average volume of 599,544. The stock's fifty day moving average price is $23.91 and its 200-day moving average price is $26.56. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. Reynolds Consumer Products Inc. has a one year low of $21.90 and a one year high of $32.65. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 14.04 and a beta of 0.64.

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

Reynolds Consumer Products Announces Dividend

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

Insider Buying and Selling at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 6,000 shares of the company's stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $24.89 per share, with a total value of $149,340.00. Following the acquisition, the director now directly owns 16,889 shares of the company's stock, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 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.