Canada Pension Plan Investment Board Has $1.40 Million Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Canada Pension Plan Investment Board increased its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 1,051.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,800 shares of the company's stock after buying an additional 47,300 shares during the quarter. Canada Pension Plan Investment Board's holdings in Reynolds Consumer Products were worth $1,398,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. boosted its stake in shares of Reynolds Consumer Products by 115.2% in the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock valued at $35,000 after purchasing an additional 698 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Reynolds Consumer Products during the fourth quarter worth approximately $40,000. Farther Finance Advisors LLC raised its stake in shares of Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock valued at $70,000 after acquiring an additional 2,248 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Reynolds Consumer Products by 36.0% in the 4th quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock worth $94,000 after acquiring an additional 921 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Reynolds Consumer Products during the 4th quarter worth approximately $165,000. Institutional investors and hedge funds own 26.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on REYN shares. Royal Bank of Canada restated a "sector perform" rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research note on Monday. JPMorgan Chase & Co. dropped their target price 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. Barclays decreased their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Truist Financial dropped their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Evercore ISI decreased their price objective on 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Reynolds Consumer Products currently has a consensus rating of "Hold" and a consensus price target of $28.56.

Reynolds Consumer Products Trading Up 0.6 %

Shares of Reynolds Consumer Products stock traded up $0.15 during trading on Tuesday, hitting $23.51. 179,491 shares of the company were exchanged, compared to its average volume of 699,557. The firm's fifty day moving average price is $23.77 and its 200 day moving average price is $26.13. Reynolds Consumer Products Inc. has a 1-year low of $21.90 and a 1-year high of $32.65. The firm has a market capitalization of $4.94 billion, a P/E ratio of 14.00 and a beta of 0.64. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. As a group, sell-side analysts expect that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.91%. Reynolds Consumer Products's dividend payout ratio is presently 54.76%.

Insider Buying and Selling

In related news, Director Rolf Stangl purchased 6,000 shares of Reynolds Consumer Products stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the acquisition, the director now directly owns 16,889 shares of the company's stock, valued at $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by company insiders.

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.