Edgestream Partners L.P. Boosts Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Edgestream Partners L.P. increased its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 83.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,613 shares of the company's stock after buying an additional 28,018 shares during the quarter. Edgestream Partners L.P.'s holdings in Reynolds Consumer Products were worth $1,470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Reynolds Consumer Products by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company's stock worth $15,976,000 after buying an additional 19,044 shares during the period. Victory Capital Management Inc. grew its position in shares of Reynolds Consumer Products by 14.8% in the 4th quarter. Victory Capital Management Inc. now owns 19,471 shares of the company's stock worth $526,000 after buying an additional 2,508 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Reynolds Consumer Products in the 4th quarter worth about $424,000. Raymond James Financial Inc. purchased a new stake in shares of Reynolds Consumer Products in the 4th quarter worth about $528,000. Finally, Farther Finance Advisors LLC grew its position in shares of Reynolds Consumer Products by 667.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock worth $70,000 after buying an additional 2,248 shares during the period. 26.81% of the stock is owned by hedge funds and other institutional investors.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock traded down $0.14 during midday trading on Monday, hitting $21.60. The stock had a trading volume of 168,973 shares, compared to its average volume of 768,852. The firm's fifty day moving average is $21.91 and its two-hundred day moving average is $23.67. The company has a market capitalization of $4.54 billion, a PE ratio of 13.51 and a beta of 0.57. Reynolds Consumer Products Inc. has a 52-week low of $20.91 and a 52-week high of $32.65. The company has a current ratio of 1.80, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released 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. The company had revenue of $801.00 million during the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.87%. The firm's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. On average, research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current 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 issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Friday, May 16th. Reynolds Consumer Products's dividend payout ratio (DPR) is currently 57.50%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. 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 research report on Thursday, April 24th. 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. 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. Wall Street Zen raised shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Barclays cut their price objective on shares of Reynolds Consumer Products from $22.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Seven 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, the stock has a consensus rating of "Hold" and an average target price of $27.67.

Insider Buying and Selling

In other Reynolds Consumer Products news, CAO Chris Mayrhofer bought 5,048 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was purchased at an average cost of $21.99 per share, with a total value of $111,005.52. Following the completion of the acquisition, the chief accounting officer owned 23,266 shares in the company, valued at $511,619.34. This trade represents a 27.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rolf Stangl bought 4,500 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was acquired at an average cost of $21.24 per share, with a total value of $95,580.00. Following the completion of the acquisition, the director owned 30,889 shares of the company's stock, valued at $656,082.36. This represents a 17.05% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 34,766 shares of company stock valued at $765,632. Insiders own 0.15% of the company's stock.

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.