MQS Management LLC Purchases Shares of 13,149 Reynolds Consumer Products Inc. (NASDAQ:REYN)

MQS Management LLC purchased a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,149 shares of the company's stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of REYN. Versant Capital Management Inc lifted its position in Reynolds Consumer Products by 38.1% during the first 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 in the last quarter. Quarry LP lifted its position in shares of Reynolds Consumer Products by 187.0% during the fourth quarter. Quarry LP now owns 2,531 shares of the company's stock worth $68,000 after purchasing an additional 1,649 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Reynolds Consumer Products by 667.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock worth $70,000 after purchasing an additional 2,248 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Reynolds Consumer Products in the fourth quarter valued at $165,000. Finally, Deutsche Bank AG raised its holdings in Reynolds Consumer Products by 35.8% in the fourth quarter. Deutsche Bank AG now owns 7,247 shares of the company's stock valued at $196,000 after acquiring an additional 1,910 shares in the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on REYN shares. Truist Financial cut their price target on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Barclays cut their price target on shares of Reynolds Consumer Products from $22.00 to $21.00 and set an "equal weight" rating on the stock in a report on Tuesday. Canaccord Genuity Group cut their price target on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus cut their price target on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Finally, Wall Street Zen upgraded shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Seven investment 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, the stock has an average rating of "Hold" and a consensus price target of $27.67.

Insider Activity

In related news, CAO Chris Mayrhofer acquired 18,218 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, May 29th. The stock was acquired 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 directly owned 18,218 shares of the company's stock, valued at $403,346.52. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rolf Stangl acquired 4,500 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average cost of $21.24 per share, with a total value of $95,580.00. Following the acquisition, the director directly owned 30,889 shares of the company's stock, valued at approximately $656,082.36. This trade represents a 17.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 34,766 shares of company stock valued at $765,632 in the last 90 days. Insiders own 0.15% of the company's stock.

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock traded down $0.29 during trading on Friday, hitting $21.66. 374,865 shares of the stock were exchanged, compared to its average volume of 765,808. The stock's fifty day moving average is $21.94 and its 200 day moving average is $23.75. The stock has a market cap of $4.56 billion, a PE ratio of 13.55 and a beta of 0.57. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 1.80. 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 released its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The business 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 company's quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. As a group, sell-side analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.23 per share. The ex-dividend date was Friday, May 16th. This represents a $0.92 annualized dividend and a dividend yield of 4.25%. Reynolds Consumer Products's dividend payout ratio is currently 57.50%.

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.