State of New Jersey Common Pension Fund D Sells 23,377 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

State of New Jersey Common Pension Fund D reduced its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 25.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,705 shares of the company’s stock after selling 23,377 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Reynolds Consumer Products were worth $1,894,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in shares of Reynolds Consumer Products by 21.7% in the 4th quarter. Victory Capital Management Inc. now owns 14,684 shares of the company’s stock worth $394,000 after buying an additional 2,619 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Reynolds Consumer Products by 10.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 536,320 shares of the company’s stock valued at $14,395,000 after buying an additional 50,425 shares during the period. Teacher Retirement System of Texas purchased a new stake in Reynolds Consumer Products in the 4th quarter valued at about $491,000. Dimensional Fund Advisors LP lifted its position in shares of 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 purchasing an additional 218,864 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Reynolds Consumer Products in the 4th quarter worth approximately $282,000. 26.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

REYN has been the subject of several recent analyst reports. Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They set a “buy” rating and a $38.00 price objective for the company. Barclays increased their price objective 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 Thursday, August 8th. Canaccord Genuity Group increased their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada increased their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.00.

Reynolds Consumer Products Trading Up 2.7 %

Shares of REYN stock opened at $32.17 on Monday. Reynolds Consumer Products Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $32.65. The company has a quick ratio of 1.01, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. The business has a fifty day simple moving average of $29.93 and a 200-day simple moving average of $28.91. The stock has a market cap of $6.76 billion, a P/E ratio of 20.49 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The business had revenue of $930.00 million for the quarter, compared to the consensus estimate of $890.71 million. During the same period last year, the business posted $0.32 EPS. The company’s revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 58.60%.

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.