Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by Olstein Capital Management L.P.

Olstein Capital Management L.P. lowered its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 11.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,000 shares of the company’s stock after selling 38,000 shares during the quarter. Reynolds Consumer Products makes up 1.4% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 27th largest holding. Olstein Capital Management L.P. owned about 0.14% of Reynolds Consumer Products worth $8,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Ceredex Value Advisors LLC purchased a new position in Reynolds Consumer Products in the fourth quarter valued at about $8,408,000. KLCM Advisors Inc. boosted its holdings in Reynolds Consumer Products by 112.6% in the 4th quarter. KLCM Advisors Inc. now owns 522,891 shares of the company’s stock valued at $14,034,000 after purchasing an additional 276,898 shares during the period. Norges Bank bought a new stake in shares of Reynolds Consumer Products in the fourth quarter valued at about $6,924,000. Dimensional Fund Advisors LP raised its stake in shares of Reynolds Consumer Products by 23.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock valued at $31,069,000 after purchasing an additional 218,864 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Reynolds Consumer Products by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,081,988 shares of the company’s stock valued at $373,622,000 after buying an additional 190,431 shares in the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on REYN shares. Stifel Nicolaus reiterated a “hold” rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price target on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Barclays lifted their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Finally, Canaccord Genuity Group boosted their target price on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.00.

Reynolds Consumer Products Price Performance

Reynolds Consumer Products stock traded down $0.10 during midday trading on Wednesday, reaching $27.45. 139,018 shares of the stock were exchanged, compared to its average volume of 546,423. The company’s fifty day moving average is $28.50 and its 200-day moving average is $28.21. Reynolds Consumer Products Inc. has a 52 week low of $24.80 and a 52 week high of $30.54. The firm has a market cap of $5.77 billion, a PE ratio of 17.55 and a beta of 0.47. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 2.11.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. The firm had revenue of $833.00 million during the quarter, compared to analyst estimates of $814.92 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.67 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.35%. The ex-dividend date was Thursday, May 16th. Reynolds Consumer Products’s dividend payout ratio is presently 58.60%.

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.