Citigroup Inc. Sells 1,954 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Citigroup Inc. lowered its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 20.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,464 shares of the company’s stock after selling 1,954 shares during the period. Citigroup Inc.’s holdings in Reynolds Consumer Products were worth $191,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in REYN. Graham Capital Management L.P. acquired a new stake in Reynolds Consumer Products in the 3rd quarter valued at $223,000. The Manufacturers Life Insurance Company boosted its stake in shares of Reynolds Consumer Products by 94.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 489,769 shares of the company’s stock valued at $12,553,000 after purchasing an additional 238,363 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of Reynolds Consumer Products in the 3rd quarter worth about $678,000. Sei Investments Co. increased its position in shares of Reynolds Consumer Products by 6.1% during the 3rd quarter. Sei Investments Co. now owns 479,226 shares of the company’s stock worth $12,283,000 after purchasing an additional 27,608 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Reynolds Consumer Products by 10.2% during the 3rd quarter. Legal & General Group Plc now owns 53,974 shares of the company’s stock valued at $1,383,000 after purchasing an additional 5,001 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on REYN shares. JPMorgan Chase & Co. raised their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. TheStreet raised shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price objective on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Barclays raised their price objective on Reynolds Consumer Products from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $29.29.

Reynolds Consumer Products Stock Down 0.7 %

Shares of NASDAQ REYN opened at $28.56 on Friday. Reynolds Consumer Products Inc. has a 52 week low of $24.80 and a 52 week high of $30.54. The stock’s fifty day moving average is $28.43 and its 200 day moving average is $26.99. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.08 and a current ratio of 2.18. The stock has a market capitalization of $6.00 billion, a P/E ratio of 20.11 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. Sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.61 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.22%. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 64.79%.

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.