Villere ST Denis J & Co. LLC Sells 21,425 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Villere ST Denis J & Co. LLC cut its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 294,740 shares of the company's stock after selling 21,425 shares during the quarter. Villere ST Denis J & Co. LLC owned about 0.14% of Reynolds Consumer Products worth $7,955,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Reynolds Consumer Products by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company's stock worth $351,564,000 after acquiring an additional 182,353 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of Reynolds Consumer Products by 5.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company's stock valued at $443,000 after acquiring an additional 814 shares during the period. KBC Group NV acquired a new stake in shares of Reynolds Consumer Products during the fourth quarter valued at approximately $2,903,000. Blue Trust Inc. raised its holdings in shares of Reynolds Consumer Products by 115.2% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock valued at $35,000 after acquiring an additional 698 shares during the period. Finally, Olstein Capital Management L.P. increased its stake in Reynolds Consumer Products by 43.3% in the 4th quarter. Olstein Capital Management L.P. now owns 237,000 shares of the company's stock valued at $6,397,000 after buying an additional 71,624 shares during the period. 26.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Reynolds Consumer Products

In other news, Director Rolf Stangl bought 3,682 shares of the stock in a transaction dated Thursday, December 19th. The shares were bought at an average cost of $27.50 per share, with a total value of $101,255.00. Following the completion of the transaction, the director now directly owns 10,889 shares of the company's stock, valued at $299,447.50. This trade represents a 51.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group dropped 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 note on Thursday, January 16th. Evercore ISI decreased their price objective on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $32.00 price objective on shares of Reynolds Consumer Products in a report on Monday, February 3rd. 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 note on Thursday, February 6th. Finally, Barclays dropped their price objective on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $30.38.

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock traded down $0.10 during trading on Wednesday, reaching $23.71. The company's stock had a trading volume of 700,785 shares, compared to its average volume of 592,177. The business's 50-day moving average price is $26.63 and its 200-day moving average price is $28.58. The firm has a market cap of $4.98 billion, a PE ratio of 14.11 and a beta of 0.50. Reynolds Consumer Products Inc. has a 52 week low of $23.61 and a 52 week 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 issued its earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. Equities analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Friday, February 14th. Reynolds Consumer Products's payout ratio is presently 54.76%.

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.