Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC cut its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 94.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,774 shares of the company’s stock after selling 159,580 shares during the quarter. Voloridge Investment Management LLC’s holdings in Reynolds Consumer Products were worth $237,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in REYN. Norges Bank acquired a new position in shares of Reynolds Consumer Products during the 4th quarter worth $17,964,000. Dimensional Fund Advisors LP grew its stake in shares of Reynolds Consumer Products by 13.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company’s stock worth $63,586,000 after purchasing an additional 275,601 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Reynolds Consumer Products by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after purchasing an additional 182,353 shares during the period. Ceredex Value Advisors LLC grew its stake in shares of Reynolds Consumer Products by 58.1% during the 4th quarter. Ceredex Value Advisors LLC now owns 468,360 shares of the company’s stock worth $12,641,000 after purchasing an additional 172,136 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Reynolds Consumer Products by 13.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock worth $32,707,000 after purchasing an additional 139,576 shares during the period. 26.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Chris Mayrhofer acquired 5,048 shares of the stock in a transaction on Friday, May 30th. The stock was bought at an average price of $21.99 per share, with a total value of $111,005.52. Following the completion of the transaction, the chief accounting officer now directly owns 23,266 shares of the company’s stock, valued at $511,619.34. The trade was a 27.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Rolf Stangl acquired 2,500 shares of the stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $23.22 per share, with a total value of $58,050.00. Following the transaction, the director now directly owns 19,389 shares of the company’s stock, valued at $450,212.58. This represents a 14.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 25,766 shares of company stock valued at $572,402. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on REYN shares. Barclays decreased their price objective on shares of 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. Truist Financial decreased their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Evercore ISI decreased their price objective on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. reduced their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Reynolds Consumer Products from a “sell” rating to a “hold” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.33.

Reynolds Consumer Products Stock Down 0.4%

REYN opened at $22.19 on Friday. The firm has a 50 day moving average price of $23.18 and a 200 day moving average price of $25.17. The company has a market cap of $4.67 billion, a PE ratio of 13.21 and a beta of 0.61. Reynolds Consumer Products Inc. has a 1 year low of $21.63 and a 1 year high of $32.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04.

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

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Friday, May 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 57.50%.

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.