Los Angeles Capital Management LLC Sells 3,107 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Los Angeles Capital Management LLC cut its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,274 shares of the company’s stock after selling 3,107 shares during the period. Los Angeles Capital Management LLC’s holdings in Reynolds Consumer Products were worth $2,544,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Verition Fund Management LLC purchased a new position in shares of Reynolds Consumer Products in the 3rd quarter worth about $12,844,000. Beacon Harbor Wealth Advisors Inc. bought a new stake in Reynolds Consumer Products in the 3rd quarter worth approximately $5,731,000. Allspring Global Investments Holdings LLC boosted its stake in Reynolds Consumer Products by 1.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after buying an additional 182,353 shares in the last quarter. Jane Street Group LLC grew its position in Reynolds Consumer Products by 758.9% during the third quarter. Jane Street Group LLC now owns 167,722 shares of the company’s stock valued at $5,216,000 after acquiring an additional 148,194 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Reynolds Consumer Products during the third quarter worth approximately $4,397,000. Institutional investors own 26.81% of the company’s stock.

Insider Activity at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 3,682 shares of the stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $27.50 per share, with a total value of $101,255.00. Following the purchase, the director now directly owns 10,889 shares of the company’s stock, valued at approximately $299,447.50. This trade represents a 51.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Reynolds Consumer Products Trading Down 1.1 %

NASDAQ:REYN opened at $24.40 on Friday. Reynolds Consumer Products Inc. has a one year low of $23.61 and a one year high of $32.65. The business has a fifty day moving average price of $26.24 and a 200-day moving average price of $28.38. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 14.52 and a beta of 0.50. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share (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%. Sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Friday, February 14th. Reynolds Consumer Products’s payout ratio is presently 54.76%.

Analyst Upgrades and Downgrades

Several research firms recently commented on REYN. Canaccord Genuity Group reduced their target price on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Evercore ISI decreased their price objective on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Barclays reduced their price target on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.38.

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.