Sterling Capital Management LLC Trims Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Sterling Capital Management LLC decreased its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 90.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,258 shares of the company's stock after selling 32,431 shares during the quarter. Sterling Capital Management LLC's holdings in Reynolds Consumer Products were worth $88,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. 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 in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Reynolds Consumer Products in the fourth quarter worth about $40,000. Farther Finance Advisors LLC increased its stake in shares of Reynolds Consumer Products by 667.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock valued at $70,000 after purchasing an additional 2,248 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Reynolds Consumer Products by 36.0% during 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 last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Reynolds Consumer Products in the 4th quarter worth approximately $165,000. Institutional investors own 26.81% of the company's stock.

Insider Buying and Selling at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 6,000 shares of the company's stock in a transaction dated Monday, February 10th. The shares were acquired at an average price of $24.89 per share, for a total transaction of $149,340.00. Following 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company's stock.

Reynolds Consumer Products Stock Up 1.8 %

REYN opened at $24.08 on Wednesday. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 14.33 and a beta of 0.64. The firm has a 50 day moving average price of $23.81 and a 200-day moving average price of $26.33. Reynolds Consumer Products Inc. has a twelve month low of $21.90 and a twelve month high of $32.65. 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 (NASDAQ:REYN - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, meeting analysts' consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given 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 3.82%. Reynolds Consumer Products's payout ratio is 54.76%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on REYN shares. Stifel Nicolaus lowered their price objective on 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. Canaccord Genuity Group lowered their price target on 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. Royal Bank of Canada reissued a "sector perform" rating and set a $32.00 price objective on shares of Reynolds Consumer Products in a research report on Monday, February 3rd. Barclays dropped 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. Finally, JPMorgan Chase & Co. cut their price target on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Reynolds Consumer Products has a consensus rating of "Hold" and a consensus target price of $29.00.

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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