Public Employees Retirement System of Ohio Reduces Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Public Employees Retirement System of Ohio lessened its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,890 shares of the company’s stock after selling 2,375 shares during the period. Public Employees Retirement System of Ohio’s holdings in Reynolds Consumer Products were worth $587,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of REYN. MetLife Investment Management LLC purchased a new stake in shares of Reynolds Consumer Products in the 1st quarter valued at $32,000. Harbour Investments Inc. increased its stake in shares of Reynolds Consumer Products by 737.5% in the fourth quarter. Harbour Investments Inc. now owns 1,675 shares of the company’s stock worth $50,000 after acquiring an additional 1,475 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Reynolds Consumer Products in the first quarter worth $70,000. Point72 Middle East FZE acquired a new stake in shares of Reynolds Consumer Products in the fourth quarter worth $94,000. Finally, Covestor Ltd increased its stake in shares of Reynolds Consumer Products by 89.0% in the first quarter. Covestor Ltd now owns 3,631 shares of the company’s stock worth $107,000 after acquiring an additional 1,710 shares during the period. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

REYN opened at $28.77 on Thursday. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 0.92. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 20.26 and a beta of 0.50. Reynolds Consumer Products Inc. has a 52-week low of $24.80 and a 52-week high of $30.54. The firm’s fifty day simple moving average is $28.40 and its two-hundred day simple moving average is $26.98.

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

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.20%. The ex-dividend date was Wednesday, February 14th. Reynolds Consumer Products’s payout ratio is 64.79%.

Analyst Ratings Changes

A number of research firms have recently weighed in on REYN. JPMorgan Chase & Co. increased their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Barclays increased their price objective on shares of Reynolds Consumer Products from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $31.00 price target 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. Finally, Stifel Nicolaus reissued a “hold” rating and set a $30.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Reynolds Consumer Products currently has a consensus rating of “Hold” and an average target price of $29.29.

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.