Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 46.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,827 shares of the company's stock after selling 93,160 shares during the period. JPMorgan Chase & Co. owned 0.05% of Reynolds Consumer Products worth $2,856,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of REYN. Blue Trust Inc. increased its stake in shares of Reynolds Consumer Products by 115.2% in the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after acquiring an additional 698 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Reynolds Consumer Products during the fourth quarter worth about $40,000. Farther Finance Advisors LLC increased its position in Reynolds Consumer Products by 667.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock worth $70,000 after purchasing an additional 2,248 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Reynolds Consumer Products by 36.0% during the fourth quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock worth $94,000 after purchasing an additional 921 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in Reynolds Consumer Products by 29.5% in the 4th quarter. Global Retirement Partners LLC now owns 6,953 shares of the company's stock valued at $188,000 after purchasing an additional 1,584 shares during the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

REYN has been the topic of several analyst reports. 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 report on Monday, February 3rd. Canaccord Genuity Group decreased their price target on Reynolds Consumer Products from $31.00 to $30.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. UBS Group lowered their price target on Reynolds Consumer Products from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Evercore ISI lowered 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 note on Thursday, February 6th. Finally, Barclays dropped their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $29.00.

Reynolds Consumer Products Stock Up 1.8 %

Shares of REYN opened at $24.08 on Wednesday. The company's 50-day simple moving average is $23.81 and its 200-day simple moving average is $26.33. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. Reynolds Consumer Products Inc. has a 1 year low of $21.90 and a 1 year high of $32.65. The stock has a market capitalization of $5.06 billion, a PE ratio of 14.33 and a beta of 0.64.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products's payout ratio is presently 54.76%.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 6,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the purchase, the director now directly owns 16,889 shares of the company's stock, valued at $420,367.21. The trade was a 55.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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.

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