PNC Financial Services Group Inc. Sells 1,027 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

PNC Financial Services Group Inc. decreased its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,234 shares of the company’s stock after selling 1,027 shares during the period. PNC Financial Services Group Inc.’s holdings in Reynolds Consumer Products were worth $355,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in REYN. KLCM Advisors Inc. grew its position in Reynolds Consumer Products by 112.6% during the 4th quarter. KLCM Advisors Inc. now owns 522,891 shares of the company’s stock valued at $14,034,000 after purchasing an additional 276,898 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Reynolds Consumer Products during the fourth quarter valued at approximately $913,000. Dimensional Fund Advisors LP raised its holdings in Reynolds Consumer Products by 23.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock worth $31,069,000 after acquiring an additional 218,864 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Reynolds Consumer Products in the 4th quarter valued at approximately $1,145,000. Finally, Gallacher Capital Management LLC bought a new stake in shares of Reynolds Consumer Products in the 4th quarter worth $259,000. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Reynolds Consumer Products Price Performance

Shares of NASDAQ:REYN opened at $27.98 on Friday. The company has a quick ratio of 1.01, a current ratio of 2.11 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $5.88 billion, a PE ratio of 17.82 and a beta of 0.48. The firm’s 50 day moving average price is $28.54 and its 200-day moving average price is $28.18. Reynolds Consumer Products Inc. has a twelve month low of $24.80 and a twelve month high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The business had revenue of $833.00 million for the quarter, compared to the consensus estimate of $814.92 million. During the same period last year, the firm earned $0.08 earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis. Equities research analysts expect that Reynolds Consumer Products Inc. will post 1.67 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, May 16th. Reynolds Consumer Products’s payout ratio is 58.60%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Barclays lifted their price target on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Stifel Nicolaus reissued a “hold” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Finally, Canaccord Genuity Group raised their target price on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Reynolds Consumer Products currently has a consensus rating of “Hold” and an average price target of $30.00.

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.