State Street Corp lessened its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,001,142 shares of the company's stock after selling 39,531 shares during the quarter. State Street Corp owned 0.48% of Reynolds Consumer Products worth $31,136,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of REYN. Wealth Enhancement Advisory Services LLC bought a new position in Reynolds Consumer Products during the 2nd quarter valued at about $357,000. Bank of New York Mellon Corp raised its stake in shares of Reynolds Consumer Products by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company's stock valued at $28,166,000 after acquiring an additional 66,826 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of Reynolds Consumer Products by 0.9% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 134,580 shares of the company's stock worth $3,766,000 after acquiring an additional 1,200 shares in the last quarter. Panagora Asset Management Inc. grew its position in Reynolds Consumer Products by 69.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 43,074 shares of the company's stock worth $1,205,000 after acquiring an additional 17,650 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in Reynolds Consumer Products by 4.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,181 shares of the company's stock valued at $341,000 after purchasing an additional 550 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.
Insider Buying and Selling
In other news, Director Helen Golding bought 1,190 shares of the business's stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the acquisition, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rolf Stangl purchased 3,682 shares of the firm's stock in a transaction dated Thursday, December 19th. The stock was purchased at an average cost of $27.50 per share, with a total value of $101,255.00. Following the acquisition, the director now directly owns 10,889 shares in the company, valued at $299,447.50. This trade represents a 51.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 12,079 shares of company stock valued at $330,466 over the last three months. Company insiders own 0.20% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on REYN. Jefferies Financial Group assumed coverage on Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a "buy" rating and a $38.00 price objective on the stock. Barclays reduced their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $32.17.
Check Out Our Latest Analysis on REYN
Reynolds Consumer Products Trading Up 0.5 %
Shares of REYN traded up $0.15 during trading hours on Friday, hitting $27.61. 963,367 shares of the stock traded hands, compared to its average volume of 573,431. The business has a fifty day moving average of $28.22 and a 200-day moving average of $28.98. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $5.80 billion, a PE ratio of 15.78 and a beta of 0.50. Reynolds Consumer Products Inc. has a 1-year low of $26.45 and a 1-year high of $32.65.
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 (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The business had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The business's revenue for the quarter was down 2.7% on a year-over-year basis. Analysts expect that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.
Reynolds Consumer Products Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.33%. Reynolds Consumer Products's dividend payout ratio is currently 52.57%.
Reynolds Consumer Products Company Profile
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Free Report)
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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