Renaissance Technologies LLC Has $5.76 Million Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Renaissance Technologies LLC cut its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 35.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 213,300 shares of the company’s stock after selling 117,600 shares during the period. Renaissance Technologies LLC owned approximately 0.10% of Reynolds Consumer Products worth $5,757,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Barclays PLC increased its stake in Reynolds Consumer Products by 173.9% during the 3rd quarter. Barclays PLC now owns 63,121 shares of the company’s stock worth $1,963,000 after acquiring an additional 40,075 shares during the period. World Investment Advisors LLC acquired a new stake in Reynolds Consumer Products during the third quarter worth about $538,000. Eagle Bay Advisors LLC bought a new position in Reynolds Consumer Products in the 4th quarter valued at about $40,000. Oak Thistle LLC lifted its holdings in shares of Reynolds Consumer Products by 66.5% during the 4th quarter. Oak Thistle LLC now owns 11,797 shares of the company’s stock worth $318,000 after acquiring an additional 4,710 shares during the period. Finally, Park Avenue Securities LLC boosted its position in shares of Reynolds Consumer Products by 8.0% during the 4th quarter. Park Avenue Securities LLC now owns 14,864 shares of the company’s stock worth $401,000 after acquiring an additional 1,105 shares in the last quarter. 26.81% of the stock is owned by institutional investors.

Reynolds Consumer Products Price Performance

Shares of NASDAQ REYN opened at $23.65 on Friday. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. The firm has a fifty day simple moving average of $23.83 and a 200 day simple moving average of $26.41. Reynolds Consumer Products Inc. has a twelve month low of $21.90 and a twelve month high of $32.65. The company has a market capitalization of $4.97 billion, a PE ratio of 14.08 and a beta of 0.64.

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

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend yield of 3.89%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio is currently 54.76%.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 6,000 shares of the stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $24.89 per share, with a total value of $149,340.00. Following the completion of the purchase, the director now directly owns 16,889 shares in the company, valued at $420,367.21. This trade represents a 55.10 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on REYN. Royal Bank of Canada restated a “sector perform” rating and set a $32.00 target price on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Barclays decreased their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus decreased their target price on shares of 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. Canaccord Genuity Group cut their price objective 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 lowered their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Reynolds Consumer Products presently has a consensus rating of “Hold” and a consensus target price of $29.00.

Reynolds Consumer Products Company 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.