Handelsbanken Fonder AB Reduces Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Handelsbanken Fonder AB decreased its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,900 shares of the company’s stock after selling 900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Reynolds Consumer Products were worth $591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in Reynolds Consumer Products during the 3rd quarter valued at $29,000. Blue Trust Inc. raised its position in shares of Reynolds Consumer Products by 115.2% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after purchasing an additional 698 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Reynolds Consumer Products during the fourth quarter worth $40,000. Capital Performance Advisors LLP purchased a new position in shares of Reynolds Consumer Products during the third quarter valued at $70,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Reynolds Consumer Products by 93.7% during the third quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock valued at $80,000 after buying an additional 1,239 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on REYN. UBS Group lowered their target price on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Stifel Nicolaus cut their price objective on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Canaccord Genuity Group cut their price target on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.38.

Insider Buying and Selling

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the transaction, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. The trade was a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Reynolds Consumer Products Trading Up 0.3 %

REYN stock opened at $24.48 on Friday. Reynolds Consumer Products Inc. has a 1-year low of $23.61 and a 1-year high of $32.65. The firm has a market cap of $5.14 billion, a P/E ratio of 14.57 and a beta of 0.50. The business’s 50 day moving average is $26.18 and its 200-day moving average is $28.34. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share 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%. Equities analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 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 Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.76%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 54.76%.

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.