London Co. of Virginia Sells 35,084 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

London Co. of Virginia lowered its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,023,697 shares of the company’s stock after selling 35,084 shares during the period. London Co. of Virginia owned about 0.49% of Reynolds Consumer Products worth $27,630,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in REYN. Jacobs Levy Equity Management Inc. increased its position in shares of Reynolds Consumer Products by 38.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 130,397 shares of the company’s stock worth $3,519,000 after buying an additional 35,951 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Reynolds Consumer Products during the 4th quarter worth about $496,000. Clark Capital Management Group Inc. raised its position in shares of Reynolds Consumer Products by 13.5% in the 4th quarter. Clark Capital Management Group Inc. now owns 183,812 shares of the company’s stock worth $4,961,000 after acquiring an additional 21,885 shares in the last quarter. Deutsche Bank AG raised its position in shares of Reynolds Consumer Products by 35.8% in the 4th quarter. Deutsche Bank AG now owns 7,247 shares of the company’s stock worth $196,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Centiva Capital LP bought a new stake in shares of Reynolds Consumer Products during the 4th quarter valued at about $499,000. Institutional investors own 26.81% of the company’s stock.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 2,500 shares of Reynolds Consumer Products stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the transaction, the director now directly owns 19,389 shares of the company’s stock, valued at approximately $450,212.58. The trade was a 14.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus lowered their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a report on Monday, April 28th. Canaccord Genuity Group decreased their price target on Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating for the company in a report on Thursday, May 1st. UBS Group lowered their price target on Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Finally, Truist Financial cut their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.33.

Reynolds Consumer Products Trading Down 0.3%

Shares of Reynolds Consumer Products stock opened at $23.10 on Monday. The stock has a market capitalization of $4.86 billion, a P/E ratio of 13.75 and a beta of 0.61. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The stock’s 50-day simple moving average is $23.52 and its 200 day simple moving average is $25.68. Reynolds Consumer Products Inc. has a 52-week low of $21.90 and a 52-week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $821.99 million. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 earnings per share. As a group, research analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.98%. Reynolds Consumer Products’s dividend payout ratio is presently 57.50%.

Reynolds Consumer Products Profile

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.