Reynolds Consumer Products Inc. (NASDAQ:REYN) Position Reduced by Simplicity Solutions LLC

Simplicity Solutions LLC trimmed its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,710 shares of the company’s stock after selling 690 shares during the quarter. Simplicity Solutions LLC’s holdings in Reynolds Consumer Products were worth $529,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Reynolds Consumer Products by 0.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,891,557 shares of the company’s stock worth $346,009,000 after buying an additional 41,949 shares during the last quarter. FMR LLC lifted its position in shares of Reynolds Consumer Products by 7.4% in the 3rd quarter. FMR LLC now owns 6,454,619 shares of the company’s stock worth $165,432,000 after buying an additional 442,654 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Reynolds Consumer Products by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,607,712 shares of the company’s stock worth $143,726,000 after buying an additional 19,527 shares during the last quarter. First Trust Advisors LP lifted its position in Reynolds Consumer Products by 5.9% in the 1st quarter. First Trust Advisors LP now owns 2,805,066 shares of the company’s stock valued at $77,139,000 after purchasing an additional 155,206 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Reynolds Consumer Products by 0.5% in the 2nd quarter. BlackRock Inc. now owns 2,570,003 shares of the company’s stock valued at $72,603,000 after purchasing an additional 13,347 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Reynolds Consumer Products Stock Performance

Shares of REYN opened at $27.95 on Friday. The firm’s 50 day moving average is $28.70 and its 200-day moving average is $27.26. The stock has a market capitalization of $5.87 billion, a P/E ratio of 19.68 and a beta of 0.49. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.18 and a quick ratio of 1.08. Reynolds Consumer Products Inc. has a 12-month low of $24.80 and a 12-month high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The business’s revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. Equities research analysts anticipate that Reynolds Consumer Products Inc. will post 1.61 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Wednesday, February 14th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 64.79%.

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.