Northern Trust Corp Grows Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Northern Trust Corp lifted its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 49.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 350,398 shares of the company's stock after buying an additional 115,399 shares during the period. Northern Trust Corp owned approximately 0.17% of Reynolds Consumer Products worth $9,457,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in REYN. Blue Trust Inc. lifted its stake in shares of Reynolds Consumer Products by 115.2% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after buying an additional 698 shares during the period. Quarry LP lifted its position in Reynolds Consumer Products by 187.0% during the fourth quarter. Quarry LP now owns 2,531 shares of the company's stock valued at $68,000 after purchasing an additional 1,649 shares during the period. Farther Finance Advisors LLC lifted its position in Reynolds Consumer Products by 667.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock valued at $70,000 after purchasing an additional 2,248 shares during the period. Venturi Wealth Management LLC lifted its position in Reynolds Consumer Products by 36.0% during the fourth quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock valued at $94,000 after purchasing an additional 921 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in Reynolds Consumer Products during the fourth quarter valued at $165,000. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Stifel Nicolaus decreased 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 research report on Thursday, April 10th. Royal Bank of Canada restated a "sector perform" rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research report on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective 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. 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, UBS Group decreased their price objective on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Six 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, Reynolds Consumer Products presently has a consensus rating of "Hold" and an average target price of $28.33.

Reynolds Consumer Products Price Performance

Shares of Reynolds Consumer Products stock traded down $0.16 during trading hours on Friday, reaching $21.98. The stock had a trading volume of 806,521 shares, compared to its average volume of 634,392. The stock's 50 day moving average is $23.33 and its 200 day moving average is $25.35. The firm has a market capitalization of $4.62 billion, a PE ratio of 13.08 and a beta of 0.61. Reynolds Consumer Products Inc. has a twelve month low of $21.63 and a twelve month high of $32.65. 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 earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, hitting analysts' consensus estimates of $0.23. The business had revenue of $801.00 million during the quarter, compared to analysts' expectations of $821.99 million. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The company's quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 earnings per share. Equities analysts expect that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.19%. Reynolds Consumer Products's dividend payout ratio is currently 57.50%.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl bought 2,500 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average price of $23.22 per share, with a total value of $58,050.00. Following the completion of the purchase, the director now directly owns 19,389 shares of the company's stock, valued at approximately $450,212.58. This trade represents a 14.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.15% of the company's stock.

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.