Vanguard Group Inc. lessened its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN – Free Report) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,156,339 shares of the company’s stock after selling 41,390 shares during the period. Vanguard Group Inc.’s holdings in Reynolds Consumer Products were worth $141,103,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. HB Wealth Management LLC bought a new position in Reynolds Consumer Products during the fourth quarter valued at approximately $357,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Reynolds Consumer Products by 13.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,283 shares of the company’s stock worth $304,000 after purchasing an additional 1,558 shares during the period. Merit Financial Group LLC lifted its stake in Reynolds Consumer Products by 5.2% in the fourth quarter. Merit Financial Group LLC now owns 29,421 shares of the company’s stock worth $674,000 after purchasing an additional 1,444 shares during the last quarter. CWM LLC lifted its stake in Reynolds Consumer Products by 1.7% in the fourth quarter. CWM LLC now owns 124,901 shares of the company’s stock worth $2,863,000 after purchasing an additional 2,138 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Reynolds Consumer Products by 127.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,391 shares of the company’s stock valued at $32,000 after buying an additional 780 shares during the period. Institutional investors own 26.81% of the company’s stock.
Reynolds Consumer Products Stock Performance
Shares of REYN stock opened at $21.60 on Tuesday. The stock has a fifty day moving average of $21.64 and a 200 day moving average of $23.11. Reynolds Consumer Products Inc. has a 52 week low of $20.44 and a 52 week high of $26.25. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 13.76 and a beta of 0.57. The company has a quick ratio of 0.76, a current ratio of 1.79 and a debt-to-equity ratio of 0.68.
Reynolds Consumer Products Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, May 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.3%. Reynolds Consumer Products’s dividend payout ratio is 58.60%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Zacks Research raised Reynolds Consumer Products from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Canaccord Genuity Group decreased their target price on shares of Reynolds Consumer Products from $27.00 to $24.00 and set a “hold” rating on the stock in a research note on Monday, January 26th. Royal Bank Of Canada set a $24.00 price target on shares of Reynolds Consumer Products and gave the company a “sector perform” rating in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reynolds Consumer Products in a research note on Monday, April 27th. Finally, Barclays dropped their target price on shares of Reynolds Consumer Products from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, April 14th. Seven analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.60.
Check Out Our Latest Research Report on REYN
Insider Activity
In other news, Director Rolf Stangl bought 4,705 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was purchased at an average price of $21.06 per share, with a total value of $99,087.30. Following the transaction, the director owned 39,537 shares of the company’s stock, valued at approximately $832,649.22. The trade was a 13.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.
Reynolds Consumer Products Company Profile
Reynolds Consumer Products, Inc (NASDAQ: REYN) is a leading North American manufacturer and marketer of household consumer products. The company specializes in food storage and cooking solutions, including aluminum foil, plastic wrap, food storage containers and disposable tableware. Its core portfolio features well-known brands such as Reynolds Wrap aluminum foil, Hefty storage containers and trash bags, and Fastfold paper plates.
The company operates through a network of manufacturing and distribution facilities across North America, Latin America, Europe and the Asia Pacific region.
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