GAMMA Investing LLC Purchases 18,963 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

GAMMA Investing LLC grew its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 1,493.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,233 shares of the company's stock after purchasing an additional 18,963 shares during the period. GAMMA Investing LLC's holdings in Reynolds Consumer Products were worth $483,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Reynolds Consumer Products by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company's stock valued at $157,704,000 after acquiring an additional 17,756 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Reynolds Consumer Products by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company's stock worth $63,586,000 after purchasing an additional 275,601 shares during the period. Bank of New York Mellon Corp increased its stake in Reynolds Consumer Products by 13.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company's stock valued at $32,707,000 after acquiring an additional 139,576 shares during the last quarter. Geode Capital Management LLC increased its stake in Reynolds Consumer Products by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,072,422 shares of the company's stock valued at $28,953,000 after acquiring an additional 26,664 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Reynolds Consumer Products by 13.7% in the fourth quarter. Sei Investments Co. now owns 766,463 shares of the company's stock valued at $20,687,000 after acquiring an additional 92,473 shares during the last quarter. 26.81% of the stock is owned by institutional investors.

Reynolds Consumer Products Trading Down 0.3%

Shares of REYN stock opened at $21.06 on Friday. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 13.16 and a beta of 0.58. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.80 and a quick ratio of 0.72. The firm has a fifty day moving average price of $22.65 and a 200-day moving average price of $24.58. Reynolds Consumer Products Inc. has a 1 year low of $20.91 and a 1 year high of $32.65.

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 for the quarter, hitting the consensus estimate of $0.23. The company had revenue of $801.00 million during 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%. Reynolds Consumer Products's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. As a group, equities analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend was Friday, May 16th. Reynolds Consumer Products's payout ratio is currently 57.50%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on REYN shares. UBS Group reduced their price objective on Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Royal Bank Of Canada reiterated a "sector perform" rating and set a $30.00 target price on shares of Reynolds Consumer Products in a report on Monday, April 28th. Stifel Nicolaus lowered 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. JPMorgan Chase & Co. reduced 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 research report on Friday, April 11th. Finally, Truist Financial cut 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 research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $28.33.

Insider Activity

In other Reynolds Consumer Products news, Director Rolf Stangl bought 2,500 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $23.22 per share, for a total transaction of $58,050.00. Following the transaction, the director now owns 19,389 shares of the company's stock, valued at $450,212.58. This represents a 14.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Chris Mayrhofer purchased 5,048 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were purchased at an average price of $21.99 per share, for a total transaction of $111,005.52. Following the completion of the acquisition, the chief accounting officer now directly owns 23,266 shares in the company, valued at $511,619.34. The trade was a 27.71% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 30,266 shares of company stock worth $670,052. 0.15% of the stock is currently owned by corporate 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.

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