Millennium Management LLC Acquires 125,144 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Millennium Management LLC raised its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 30.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 532,261 shares of the company's stock after purchasing an additional 125,144 shares during the period. Millennium Management LLC owned approximately 0.25% of Reynolds Consumer Products worth $14,366,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of REYN. Norges Bank bought a new stake in Reynolds Consumer Products in the 4th quarter valued at about $17,964,000. Dimensional Fund Advisors LP increased its position in Reynolds Consumer Products by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company's stock valued at $63,586,000 after acquiring an additional 275,601 shares during the period. Allspring Global Investments Holdings LLC increased its position in Reynolds Consumer Products by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company's stock valued at $351,564,000 after acquiring an additional 182,353 shares during the period. Ceredex Value Advisors LLC increased its position in Reynolds Consumer Products by 58.1% in the 4th quarter. Ceredex Value Advisors LLC now owns 468,360 shares of the company's stock valued at $12,641,000 after acquiring an additional 172,136 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Reynolds Consumer Products by 13.0% in the 4th 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 period. Institutional investors own 26.81% of the company's stock.

Reynolds Consumer Products Stock Down 0.4%

NASDAQ REYN traded down $0.10 on Wednesday, hitting $22.24. 34,328 shares of the company were exchanged, compared to its average volume of 633,604. The company has a market cap of $4.68 billion, a PE ratio of 13.24 and a beta of 0.61. Reynolds Consumer Products Inc. has a 12 month low of $21.63 and a 12 month high of $32.65. The stock has a fifty day moving average of $23.26 and a 200-day moving average of $25.26. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, meeting analysts' consensus estimates of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The firm had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. During the same period last year, the firm earned $0.23 earnings per share. The business's quarterly revenue was down 1.8% compared to the same quarter last year. As a group, analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date is Friday, May 16th. Reynolds Consumer Products's dividend payout ratio (DPR) is 57.50%.

Insider Buying and Selling at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl acquired 2,500 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were purchased 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 owns 19,389 shares of the company's stock, valued at approximately $450,212.58. This represents a 14.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on REYN shares. Barclays decreased their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Canaccord Genuity Group decreased their price target on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Royal Bank of Canada reiterated a "sector perform" rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Evercore ISI decreased their price objective on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Finally, Truist Financial decreased their price objective 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Reynolds Consumer Products has an average rating of "Hold" and a consensus target price of $28.33.

About Reynolds Consumer Products

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.