Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 21.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,475 shares of the company’s stock after selling 2,585 shares during the period. Clearbridge Investments LLC’s holdings in Reynolds Consumer Products were worth $256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of REYN. Isthmus Partners LLC raised its holdings in shares of Reynolds Consumer Products by 0.6% during the fourth quarter. Isthmus Partners LLC now owns 87,307 shares of the company’s stock worth $2,356,000 after purchasing an additional 533 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Reynolds Consumer Products by 4.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company’s stock valued at $363,000 after purchasing an additional 566 shares during the last quarter. MML Investors Services LLC raised its position in shares of Reynolds Consumer Products by 1.3% during the 3rd quarter. MML Investors Services LLC now owns 48,700 shares of the company’s stock worth $1,515,000 after purchasing an additional 641 shares during the period. Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 698 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in Reynolds Consumer Products by 5.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company’s stock valued at $443,000 after purchasing an additional 814 shares during the period. 26.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Rolf Stangl acquired 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $24.89 per share, with a total value of $149,340.00. Following the purchase, the director now owns 16,889 shares of the company’s stock, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.15% of the stock is owned by company insiders.

Reynolds Consumer Products Stock Up 0.7 %

REYN stock opened at $24.14 on Friday. The firm’s 50-day moving average is $24.71 and its two-hundred day moving average is $27.11. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 14.37 and a beta of 0.64. Reynolds Consumer Products Inc. has a 52 week low of $23.13 and a 52 week high of $32.65.

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

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products’s payout ratio is currently 54.76%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on REYN shares. UBS Group cut their target price on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. cut their price objective on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 target price on shares of Reynolds Consumer Products in a research report on Monday, February 3rd. Canaccord Genuity Group cut their price target on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Finally, Evercore ISI reduced their price objective on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Reynolds Consumer Products currently has an average rating of “Hold” and an average target price 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.