OLD National Bancorp IN Has $1.01 Million Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

OLD National Bancorp IN reduced its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 44.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,532 shares of the company’s stock after selling 30,082 shares during the period. OLD National Bancorp IN’s holdings in Reynolds Consumer Products were worth $1,007,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of REYN. International Assets Investment Management LLC raised its holdings in Reynolds Consumer Products by 467.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock worth $66,000 after buying an additional 2,012 shares during the period. Signaturefd LLC raised its holdings in Reynolds Consumer Products by 120.8% during the 4th quarter. Signaturefd LLC now owns 4,106 shares of the company’s stock worth $110,000 after buying an additional 2,246 shares during the period. Ariel Investments LLC grew its stake in shares of Reynolds Consumer Products by 11.8% during the 3rd quarter. Ariel Investments LLC now owns 6,243 shares of the company’s stock worth $160,000 after acquiring an additional 659 shares in the last quarter. First Affirmative Financial Network bought a new position in shares of Reynolds Consumer Products during the 4th quarter worth approximately $209,000. Finally, Graham Capital Management L.P. bought a new position in shares of Reynolds Consumer Products during the 3rd quarter worth approximately $223,000. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Reynolds Consumer Products Trading Up 1.3 %

Shares of Reynolds Consumer Products stock opened at $28.63 on Wednesday. The business has a fifty day simple moving average of $28.69 and a two-hundred day simple moving average of $27.35. Reynolds Consumer Products Inc. has a 1 year low of $24.80 and a 1 year high of $30.54. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 20.16 and a beta of 0.49. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.18 and a quick ratio of 1.08.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The company’s revenue was down 7.5% on a year-over-year basis. Research analysts forecast that Reynolds Consumer Products Inc. will post 1.61 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Wednesday, February 14th. Reynolds Consumer Products’s dividend payout ratio is currently 64.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. TheStreet raised shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 target price on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Barclays raised their target price on shares of Reynolds Consumer Products from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $29.80.

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.