Envestnet Asset Management Inc. Has $6.72 Million Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Envestnet Asset Management Inc. raised its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 5.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 281,648 shares of the company's stock after purchasing an additional 14,244 shares during the period. Envestnet Asset Management Inc. owned 0.13% of Reynolds Consumer Products worth $6,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of REYN. Versant Capital Management Inc increased its stake in Reynolds Consumer Products by 38.1% during the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock valued at $61,000 after buying an additional 701 shares during the period. Quarry LP grew its stake in shares of Reynolds Consumer Products by 187.0% in the 4th quarter. Quarry LP now owns 2,531 shares of the company's stock worth $68,000 after purchasing an additional 1,649 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Reynolds Consumer Products in the 4th quarter worth approximately $165,000. Deutsche Bank AG grew its stake in shares of Reynolds Consumer Products by 35.8% in the 4th quarter. Deutsche Bank AG now owns 7,247 shares of the company's stock worth $196,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Ariel Investments LLC grew its stake in shares of Reynolds Consumer Products by 6.1% in the 4th quarter. Ariel Investments LLC now owns 7,446 shares of the company's stock worth $201,000 after purchasing an additional 426 shares during the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial decreased their target price on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, April 24th. UBS Group decreased their target price on shares of Reynolds Consumer Products from $25.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. JPMorgan Chase & Co. decreased their price target on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Barclays decreased their price target on shares of Reynolds Consumer Products from $22.00 to $21.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Reynolds Consumer Products presently has a consensus rating of "Hold" and an average price target of $27.67.

Insider Buying and Selling

In other Reynolds Consumer Products news, CAO Chris Mayrhofer purchased 5,048 shares of the firm's stock in a transaction dated 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 purchase, the chief accounting officer directly owned 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rolf Stangl purchased 4,500 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were acquired at an average cost of $21.24 per share, with a total value of $95,580.00. Following the completion of the purchase, the director directly owned 30,889 shares in the company, valued at approximately $656,082.36. This represents a 17.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 34,766 shares of company stock valued at $765,632. 0.15% of the stock is owned by company insiders.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock traded down $0.01 on Friday, hitting $22.16. The company's stock had a trading volume of 991,759 shares, compared to its average volume of 1,509,314. Reynolds Consumer Products Inc. has a one year low of $20.91 and a one year high of $32.65. The company has a quick ratio of 0.72, a current ratio of 1.80 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average price of $21.80 and a 200-day moving average price of $23.54. The firm has a market cap of $4.66 billion, a P/E ratio of 13.85 and a beta of 0.57.

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 the consensus estimate of $0.23. The business had revenue of $801.00 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. On average, equities analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, August 15th. This represents a $0.92 dividend on an annualized basis and a yield of 4.15%. Reynolds Consumer Products's payout ratio is 57.50%.

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.