BNP Paribas Financial Markets Makes New Investment in Reynolds Consumer Products Inc. (NASDAQ:REYN)

BNP Paribas Financial Markets acquired a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 59,448 shares of the company's stock, valued at approximately $1,605,000.

Several other hedge funds also recently modified their holdings of REYN. Barclays PLC grew its holdings in Reynolds Consumer Products by 173.9% during the 3rd quarter. Barclays PLC now owns 63,121 shares of the company's stock worth $1,963,000 after acquiring an additional 40,075 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Reynolds Consumer Products by 8.0% during the fourth quarter. Park Avenue Securities LLC now owns 14,864 shares of the company's stock worth $401,000 after purchasing an additional 1,105 shares in the last quarter. Impact Partnership Wealth LLC grew its stake in shares of Reynolds Consumer Products by 19.6% during 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. Olstein Capital Management L.P. increased its holdings in shares of Reynolds Consumer Products by 43.3% in the fourth quarter. Olstein Capital Management L.P. now owns 237,000 shares of the company's stock valued at $6,397,000 after purchasing an additional 71,624 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Reynolds Consumer Products by 115.2% in the fourth 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. Institutional investors and hedge funds own 26.81% of the company's stock.

Insider Activity

In related news, Director Rolf Stangl bought 2,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $23.22 per share, with a total value of $58,050.00. Following the completion of the transaction, the director now owns 19,389 shares in the company, valued at $450,212.58. The trade was a 14.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

Reynolds Consumer Products Trading Down 1.8%

Shares of Reynolds Consumer Products stock traded down $0.40 during trading on Thursday, hitting $22.14. 772,070 shares of the company were exchanged, compared to its average volume of 631,774. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. The firm has a market capitalization of $4.66 billion, a P/E ratio of 13.18 and a beta of 0.61. The firm's fifty day moving average price is $23.39 and its 200 day moving average price is $25.42. Reynolds Consumer Products Inc. has a 1-year low of $21.90 and a 1-year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $801.00 million for the quarter, compared to analysts' expectations of $821.99 million. During the same period last year, the firm posted $0.23 earnings per share. The business's quarterly revenue was down 1.8% compared to the same quarter last year. 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. Stockholders of record on Friday, May 16th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.16%. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 57.50%.

Analyst Upgrades and Downgrades

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

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.