Asset Management One Co. Ltd. Sells 3,760 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Asset Management One Co. Ltd. decreased its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,131 shares of the company’s stock after selling 3,760 shares during the period. Asset Management One Co. Ltd.’s holdings in Reynolds Consumer Products were worth $2,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of REYN. True Wealth Design LLC bought a new stake in shares of Reynolds Consumer Products during the 3rd quarter valued at $29,000. Blue Trust Inc. increased its stake in Reynolds Consumer Products by 115.2% in the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after buying an additional 698 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Reynolds Consumer Products in the 4th quarter worth $40,000. Capital Performance Advisors LLP purchased a new stake in Reynolds Consumer Products in the 3rd quarter worth $70,000. Finally, Abich Financial Wealth Management LLC increased its stake in Reynolds Consumer Products by 21.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock worth $73,000 after buying an additional 414 shares in the last quarter. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Down 0.4 %

Shares of NASDAQ REYN opened at $23.71 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. The company has a market cap of $4.98 billion, a P/E ratio of 14.11 and a beta of 0.50. Reynolds Consumer Products Inc. has a 1 year low of $23.61 and a 1 year high of $32.65. The firm has a 50-day simple moving average of $26.63 and a two-hundred day simple moving average of $28.58.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Research analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

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

Insider Activity at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 6,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were acquired at an average cost of $24.89 per share, with a total value of $149,340.00. Following the completion of the acquisition, the director now owns 16,889 shares of the company’s stock, valued at $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on REYN shares. JPMorgan Chase & Co. cut their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays cut their price target on 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. Evercore ISI cut their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus cut their price target on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Finally, UBS Group cut their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Reynolds Consumer Products has a consensus rating of “Hold” and an average price target of $30.38.

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.