Baird Financial Group Inc. Sells 725 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Baird Financial Group Inc. trimmed its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,620 shares of the company’s stock after selling 725 shares during the period. Baird Financial Group Inc.’s holdings in Reynolds Consumer Products were worth $691,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Reynolds Consumer Products by 115.2% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock valued at $35,000 after acquiring an additional 698 shares during the period. Quarry LP increased its stake in Reynolds Consumer Products by 187.0% during the fourth quarter. Quarry LP now owns 2,531 shares of the company’s stock valued at $68,000 after acquiring an additional 1,649 shares during the period. Farther Finance Advisors LLC increased its stake in Reynolds Consumer Products by 667.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock valued at $70,000 after acquiring an additional 2,248 shares during the period. Venturi Wealth Management LLC increased 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 acquiring an additional 921 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in Reynolds Consumer Products during the fourth quarter valued at about $165,000. 26.81% of the stock is currently owned by institutional investors.

Reynolds Consumer Products Stock Down 2.2%

Shares of REYN opened at $22.68 on Thursday. The company has a market capitalization of $4.77 billion, a P/E ratio of 13.50 and a beta of 0.61. 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 Inc. has a one year low of $21.90 and a one year high of $32.65. The business’s 50 day simple moving average is $23.47 and its 200-day simple moving average is $25.60.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The business 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%. Reynolds Consumer Products’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 EPS. As a group, sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.23 dividend. 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 4.06%. Reynolds Consumer Products’s payout ratio is 57.50%.

Insider Activity

In other news, Director Rolf Stangl purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $23.22 per share, with a total value of $58,050.00. Following the completion of the purchase, the director now directly owns 19,389 shares of the company’s stock, valued at $450,212.58. The trade was a 14.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

REYN has been the topic of several analyst reports. Evercore ISI lowered their price objective on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus lowered their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. UBS Group lowered their price objective on Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. lowered their price objective on Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Reynolds Consumer Products has a consensus rating of “Hold” and a consensus target price of $28.33.

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.