Marshall Wace LLP Cuts Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Marshall Wace LLP cut its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 88.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 60,024 shares of the company’s stock after selling 445,815 shares during the period. Marshall Wace LLP’s holdings in Reynolds Consumer Products were worth $1,620,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Isthmus Partners LLC boosted its position in Reynolds Consumer Products by 0.6% during the fourth quarter. Isthmus Partners LLC now owns 87,307 shares of the company’s stock worth $2,356,000 after acquiring an additional 533 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Reynolds Consumer Products by 4.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company’s stock worth $363,000 after acquiring an additional 566 shares during the last quarter. Blue Trust Inc. boosted its position in 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 acquiring an additional 698 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in Reynolds Consumer Products by 5.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company’s stock worth $443,000 after acquiring an additional 814 shares during the last quarter. Finally, Swiss National Bank boosted its position in Reynolds Consumer Products by 0.7% during the fourth quarter. Swiss National Bank now owns 124,000 shares of the company’s stock worth $3,347,000 after acquiring an additional 900 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Reynolds Consumer Products news, Director Rolf Stangl bought 6,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $24.89 per share, with a total value of $149,340.00. Following the purchase, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

REYN has been the topic of a number of recent research reports. Stifel Nicolaus lowered their price target on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Canaccord Genuity Group decreased their target price on shares of Reynolds Consumer Products from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Evercore ISI decreased their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. UBS Group decreased their target price on shares of Reynolds Consumer Products from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, Barclays decreased their target price 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. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Reynolds Consumer Products has an average rating of “Hold” and a consensus target price of $28.56.

Reynolds Consumer Products Price Performance

Reynolds Consumer Products stock opened at $23.36 on Tuesday. The company’s 50 day simple moving average is $23.77 and its 200-day simple moving average is $26.13. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 13.90 and a beta of 0.64. Reynolds Consumer Products Inc. has a 1 year low of $21.90 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 released its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. As a group, equities research 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 will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.94%. The ex-dividend date is Friday, May 16th. Reynolds Consumer Products’s payout ratio is currently 54.76%.

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.