Olstein Capital Management L.P. Lowers Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Olstein Capital Management L.P. trimmed its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 11.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,000 shares of the company’s stock after selling 38,000 shares during the quarter. Reynolds Consumer Products makes up approximately 1.4% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 27th largest position. Olstein Capital Management L.P.’s holdings in Reynolds Consumer Products were worth $8,539,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in 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 acquiring an additional 190,431 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Reynolds Consumer Products by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 5,633,309 shares of the company’s stock valued at $151,198,000 after purchasing an additional 25,597 shares during the period. Dimensional Fund Advisors LP raised its stake in Reynolds Consumer Products by 23.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock worth $31,069,000 after purchasing an additional 218,864 shares during the period. TD Asset Management Inc raised its stake in Reynolds Consumer Products by 4.6% during the fourth quarter. TD Asset Management Inc now owns 560,200 shares of the company’s stock worth $15,036,000 after purchasing an additional 24,800 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Reynolds Consumer Products by 10.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 536,320 shares of the company’s stock valued at $14,395,000 after purchasing an additional 50,425 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Reynolds Consumer Products Stock Down 0.4 %

Shares of Reynolds Consumer Products stock traded down $0.10 during trading hours on Wednesday, hitting $27.45. The company had a trading volume of 139,018 shares, compared to its average volume of 546,423. The company’s 50-day moving average is $28.50 and its two-hundred day moving average is $28.21. Reynolds Consumer Products Inc. has a twelve month low of $24.80 and a twelve month high of $30.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.11 and a quick ratio of 1.01. The company has a market cap of $5.77 billion, a P/E ratio of 17.55 and a beta of 0.47.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $833.00 million for the quarter, compared to analyst estimates of $814.92 million. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. Analysts anticipate that Reynolds Consumer Products Inc. will post 1.67 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

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