Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Purchased by GAMMA Investing LLC

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

Other large investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its stake in Reynolds Consumer Products by 4.4% during 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 during the period. Ameriprise Financial Inc. lifted 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 acquiring an additional 14,241 shares during the period. Stifel Financial Corp lifted 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 acquiring an additional 60,616 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 acquiring an additional 19,044 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Reynolds Consumer Products in the 4th quarter worth $424,000. Institutional investors and hedge funds own 26.81% of the company's stock.

Reynolds Consumer Products Price Performance

Shares of REYN traded up $0.11 during trading hours on Monday, reaching $21.52. The company had a trading volume of 769,245 shares, compared to its average volume of 683,003. The firm has a 50 day simple moving average of $22.60 and a 200-day simple moving average of $24.49. The company has a current ratio of 1.80, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 13.45 and a beta of 0.58. Reynolds Consumer Products Inc. has a 12-month low of $20.91 and a 12-month high of $32.65.

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

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.28%. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 57.50%.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 4,500 shares of the stock in a transaction dated Friday, June 20th. The stock was acquired at an average cost of $21.24 per share, for a total transaction of $95,580.00. Following the completion of the acquisition, the director now directly owns 30,889 shares in the company, valued at $656,082.36. This represents a 17.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Chris Mayrhofer purchased 18,218 shares of the stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $22.14 per share, with a total value of $403,346.52. Following the completion of the acquisition, the chief accounting officer now owns 18,218 shares of the company's stock, valued at approximately $403,346.52. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 34,766 shares of company stock worth $765,632 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

REYN has been the subject of several recent analyst reports. Truist Financial reduced 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 note on Thursday, April 24th. UBS Group reduced their target price on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. reduced their target price on shares of 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. Canaccord Genuity Group reduced their target price on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Finally, Stifel Nicolaus cut their price target 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. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $28.33.

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.