Cerity Partners LLC Purchases 49,904 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Cerity Partners LLC raised its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 418.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,821 shares of the company's stock after acquiring an additional 49,904 shares during the quarter. Cerity Partners LLC's holdings in Reynolds Consumer Products were worth $1,475,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in REYN. Proficio Capital Partners LLC bought a new stake in shares of Reynolds Consumer Products during the fourth quarter valued at approximately $424,000. Raymond James Financial Inc. bought a new stake in Reynolds Consumer Products in the 4th quarter valued at $528,000. Swiss National Bank increased its holdings in Reynolds Consumer Products by 0.7% in the 4th quarter. Swiss National Bank now owns 124,000 shares of the company's stock valued at $3,347,000 after acquiring an additional 900 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Reynolds Consumer Products by 4.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock worth $363,000 after purchasing an additional 566 shares in the last quarter. Finally, Summit Global Investments bought a new position in shares of Reynolds Consumer Products during the 4th quarter valued at about $298,000. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Reynolds Consumer Products Trading Down 1.1%

Reynolds Consumer Products stock traded down $0.25 during midday trading on Thursday, reaching $22.05. The stock had a trading volume of 420,121 shares, compared to its average volume of 923,831. Reynolds Consumer Products Inc. has a 52-week low of $20.91 and a 52-week high of $32.65. The company has a fifty day moving average of $21.84 and a 200 day moving average of $23.62. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 13.78 and a beta of 0.57. The company has a quick ratio of 0.72, a current ratio of 1.80 and a debt-to-equity ratio of 0.76.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.23. The firm had revenue of $801.00 million during the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. Reynolds Consumer Products's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. On average, analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on REYN shares. JPMorgan Chase & Co. dropped their price target on 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. Stifel Nicolaus cut their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Barclays decreased their price target on shares of Reynolds Consumer Products from $22.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Finally, Truist Financial reduced their target price on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Reynolds Consumer Products presently has a consensus rating of "Hold" and a consensus target price of $27.67.

Insiders Place Their Bets

In related news, CAO Chris Mayrhofer acquired 5,048 shares of the stock in a transaction on Friday, May 30th. The stock was bought at an average cost of $21.99 per share, with a total value of $111,005.52. Following the transaction, the chief accounting officer directly owned 23,266 shares in the company, valued at approximately $511,619.34. This represents a 27.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Rolf Stangl bought 4,500 shares of Reynolds Consumer Products stock in a transaction dated Friday, June 20th. The shares were bought at an average cost of $21.24 per share, for a total transaction of $95,580.00. Following the completion of the transaction, the director owned 30,889 shares of the company's stock, valued at approximately $656,082.36. This trade represents a 17.05% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 34,766 shares of company stock valued at $765,632 over the last three months. Insiders own 0.15% of the company's stock.

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.