BNP Paribas Financial Markets Acquires Shares of 59,448 Reynolds Consumer Products Inc. (NASDAQ:REYN)

BNP Paribas Financial Markets acquired a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 59,448 shares of the company's stock, valued at approximately $1,605,000.

A number of other hedge funds have also added to or reduced their stakes in REYN. Barclays PLC boosted its holdings in shares of Reynolds Consumer Products by 173.9% during the 3rd 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. Park Avenue Securities LLC boosted its holdings in shares of Reynolds Consumer Products by 8.0% during the 4th quarter. Park Avenue Securities LLC now owns 14,864 shares of the company's stock valued at $401,000 after buying an additional 1,105 shares in the last quarter. Impact Partnership Wealth LLC boosted its holdings in shares of Reynolds Consumer Products by 19.6% during the 4th quarter. Impact Partnership Wealth LLC now owns 9,850 shares of the company's stock valued at $266,000 after buying an additional 1,617 shares in the last quarter. Olstein Capital Management L.P. boosted its holdings in shares of Reynolds Consumer Products by 43.3% during the 4th quarter. Olstein Capital Management L.P. now owns 237,000 shares of the company's stock valued at $6,397,000 after buying an additional 71,624 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Reynolds Consumer Products by 115.2% during the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock valued at $35,000 after buying an additional 698 shares in the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

REYN has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Truist Financial cut their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. UBS Group cut their price objective on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Royal Bank of Canada reissued a "sector perform" rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Finally, Canaccord Genuity Group cut their price objective on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Reynolds Consumer Products currently has an average rating of "Hold" and an average target price of $28.33.

Insider Activity

In other news, Director Rolf Stangl bought 2,500 shares of Reynolds Consumer Products stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the acquisition, the director now owns 19,389 shares of the company's stock, valued at $450,212.58. This trade represents a 14.80% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ:REYN traded down $0.16 during trading on Friday, hitting $21.98. The company's stock had a trading volume of 806,521 shares, compared to its average volume of 635,519. Reynolds Consumer Products Inc. has a 12 month low of $21.63 and a 12 month high of $32.65. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 13.08 and a beta of 0.61. The company has a 50-day moving average of $23.33 and a 200-day moving average of $25.34. 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 data on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to analyst estimates of $821.99 million. During the same period last year, the firm posted $0.23 EPS. The company's revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts expect that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Friday, May 16th. Reynolds Consumer Products's dividend payout ratio is currently 57.50%.

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.