CX Institutional Makes New $2.85 Million Investment in Reynolds Consumer Products Inc. (NASDAQ:REYN)

CX Institutional bought a new position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 119,406 shares of the company's stock, valued at approximately $2,849,000. CX Institutional owned approximately 0.06% of Reynolds Consumer Products at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its holdings in shares of 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. Barclays PLC boosted its stake in shares of Reynolds Consumer Products by 173.9% in the 3rd quarter. Barclays PLC now owns 63,121 shares of the company's stock worth $1,963,000 after buying an additional 40,075 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Reynolds Consumer Products by 214.8% in the 4th quarter. Ameriprise Financial Inc. now owns 20,870 shares of the company's stock worth $563,000 after buying an additional 14,241 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Reynolds Consumer Products by 65.0% in the 4th quarter. Stifel Financial Corp now owns 153,845 shares of the company's stock worth $4,152,000 after buying an additional 60,616 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Reynolds Consumer Products in the 4th quarter worth $424,000. Institutional investors own 26.81% of the company's stock.

Reynolds Consumer Products Price Performance

Shares of Reynolds Consumer Products stock traded down $0.03 during trading hours on Thursday, hitting $21.72. The company's stock had a trading volume of 958,245 shares, compared to its average volume of 665,245. Reynolds Consumer Products Inc. has a 12-month low of $21.45 and a 12-month high of $32.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The business has a 50 day moving average price of $22.86 and a two-hundred day moving average price of $24.85. The company has a market cap of $4.57 billion, a PE ratio of 12.93 and a beta of 0.58.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The firm had revenue of $801.00 million for the quarter, compared to analysts' expectations of $821.99 million. During the same period in the previous year, the firm posted $0.23 earnings per share. The business's revenue was down 1.8% compared to the same quarter last year. Analysts expect that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, May 16th. This represents a $0.92 annualized dividend and a yield of 4.24%. Reynolds Consumer Products's payout ratio is currently 57.50%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on REYN shares. Royal Bank of Canada restated a "sector perform" rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Stifel Nicolaus dropped their price target on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. dropped their price target on 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. Canaccord Genuity Group lowered their target price on 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. Finally, Wall Street Zen upgraded Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $28.33.

Insiders Place Their Bets

In related news, Director Rolf Stangl acquired 2,500 shares of Reynolds Consumer Products stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $23.22 per share, with a total value of $58,050.00. Following the completion of the purchase, the director now directly owns 19,389 shares of the company's stock, valued at $450,212.58. The trade was a 14.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Chris Mayrhofer acquired 5,048 shares of Reynolds Consumer Products stock in a transaction on Friday, May 30th. The shares were bought at an average cost of $21.99 per share, for a total transaction of $111,005.52. Following the completion of the purchase, the chief accounting officer now directly owns 23,266 shares of the company's stock, valued at $511,619.34. The trade was a 27.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 30,266 shares of company stock valued at $670,052 over the last ninety days. 0.15% of the stock is owned by insiders.

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.