Raymond James Financial Inc. Purchases New Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Raymond James Financial Inc. acquired a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 19,544 shares of the company's stock, valued at approximately $528,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC raised its stake in Reynolds Consumer Products by 173.9% in the third quarter. Barclays PLC now owns 63,121 shares of the company's stock valued at $1,963,000 after buying an additional 40,075 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Reynolds Consumer Products during the 4th quarter worth about $40,000. Oak Thistle LLC lifted its stake in Reynolds Consumer Products by 66.5% during the fourth quarter. Oak Thistle LLC now owns 11,797 shares of the company's stock worth $318,000 after purchasing an additional 4,710 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Reynolds Consumer Products by 8.0% in the fourth quarter. Park Avenue Securities LLC now owns 14,864 shares of the company's stock valued at $401,000 after purchasing an additional 1,105 shares in the last quarter. Finally, Impact Partnership Wealth LLC increased its stake in Reynolds Consumer Products by 19.6% in the fourth quarter. Impact Partnership Wealth LLC now owns 9,850 shares of the company's stock valued at $266,000 after purchasing an additional 1,617 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

REYN has been the topic of a number of research analyst reports. Stifel Nicolaus cut their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Truist Financial reduced their price objective on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Evercore ISI lowered their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Reynolds Consumer Products currently has a consensus rating of "Hold" and an average target price of $28.33.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ REYN traded down $0.06 during midday trading on Friday, hitting $23.10. The company's stock had a trading volume of 891,676 shares, compared to its average volume of 620,728. The firm has a market cap of $4.86 billion, a P/E ratio of 13.75 and a beta of 0.61. Reynolds Consumer Products Inc. has a 1-year low of $21.90 and a 1-year high of $32.65. The firm's fifty day moving average price is $23.52 and its 200-day moving average price is $25.71. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting analysts' consensus estimates of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The business had revenue of $801.00 million for the quarter, compared to analysts' expectations of $821.99 million. During the same quarter last year, the company earned $0.23 EPS. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. On average, sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Friday, May 16th. Reynolds Consumer Products's payout ratio is currently 57.50%.

Insider Buying and Selling

In other Reynolds Consumer Products news, Director Rolf Stangl bought 6,000 shares of the firm's stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $24.89 per share, with a total value of $149,340.00. Following the completion of the transaction, the director now directly owns 16,889 shares of the company's stock, valued at approximately $420,367.21. The trade was a 55.10 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is currently owned by insiders.

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.