London Co. of Virginia Trims Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

London Co. of Virginia lowered its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.3% in the 4th quarter, Holdings Channel reports. The fund owned 1,023,697 shares of the company’s stock after selling 35,084 shares during the quarter. London Co. of Virginia’s holdings in Reynolds Consumer Products were worth $27,630,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its position 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 buying an additional 698 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of Reynolds Consumer Products in the 4th quarter worth approximately $40,000. Quarry LP grew its stake in shares of Reynolds Consumer Products by 187.0% in the 4th quarter. Quarry LP now owns 2,531 shares of the company’s stock worth $68,000 after buying an additional 1,649 shares during the last quarter. Farther Finance Advisors LLC increased its position in Reynolds Consumer Products by 667.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock valued at $70,000 after buying an additional 2,248 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Reynolds Consumer Products by 36.0% during the fourth quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company’s stock valued at $94,000 after buying an additional 921 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group reduced their price objective on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group reduced their target price on Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Truist Financial lowered their price target on Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a report on Monday, April 28th. Finally, Barclays decreased their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.33.

Reynolds Consumer Products Price Performance

NASDAQ REYN opened at $23.10 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The company has a market cap of $4.86 billion, a PE ratio of 13.75 and a beta of 0.61. The firm’s 50 day moving average price is $23.52 and its 200-day moving average price is $25.68. Reynolds Consumer Products Inc. has a 52-week low of $21.90 and a 52-week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $821.99 million. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS. Sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.98%. Reynolds Consumer Products’s dividend payout ratio is currently 57.50%.

Insider Buying and Selling at Reynolds Consumer Products

In other news, Director Rolf Stangl acquired 2,500 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was bought at an average price of $23.22 per share, with a total value of $58,050.00. Following the completion of the acquisition, the director now owns 19,389 shares of the company’s stock, valued at approximately $450,212.58. This represents a 14.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

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.