Tower Research Capital LLC TRC Reduces Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Tower Research Capital LLC TRC decreased its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 67.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,770 shares of the company’s stock after selling 3,699 shares during the period. Tower Research Capital LLC TRC’s holdings in Reynolds Consumer Products were worth $48,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in Reynolds Consumer Products by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,891,557 shares of the company’s stock worth $346,009,000 after acquiring an additional 41,949 shares in the last quarter. FMR LLC grew its holdings in Reynolds Consumer Products by 7.4% during the 3rd quarter. FMR LLC now owns 6,454,619 shares of the company’s stock worth $165,432,000 after acquiring an additional 442,654 shares in the last quarter. Vanguard Group Inc. grew its holdings in Reynolds Consumer Products by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,607,712 shares of the company’s stock worth $143,726,000 after acquiring an additional 19,527 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Reynolds Consumer Products by 23.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock worth $31,069,000 after acquiring an additional 218,864 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Reynolds Consumer Products by 6.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 595,402 shares of the company’s stock worth $15,260,000 after acquiring an additional 35,595 shares in the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus reissued a “hold” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. TheStreet raised shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lifted their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Barclays lifted their price target on shares of Reynolds Consumer Products from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $31.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.80.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock traded down $0.04 during midday trading on Tuesday, reaching $28.63. 458,229 shares of the stock traded hands, compared to its average volume of 583,525. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.92. The firm has a fifty day moving average price of $28.69 and a two-hundred day moving average price of $27.47. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 20.16 and a beta of 0.49. Reynolds Consumer Products Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $30.54.

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

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Thursday, May 16th. Reynolds Consumer Products’s payout ratio is 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.