Quantinno Capital Management LP Grows Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Quantinno Capital Management LP boosted its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 35.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,937 shares of the company's stock after buying an additional 40,922 shares during the period. Quantinno Capital Management LP owned approximately 0.08% of Reynolds Consumer Products worth $4,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Ariel Investments LLC increased its position in Reynolds Consumer Products by 6.1% during the 4th quarter. Ariel Investments LLC now owns 7,446 shares of the company's stock valued at $201,000 after buying an additional 426 shares in the last quarter. Isthmus Partners LLC increased its holdings in shares of Reynolds Consumer Products by 0.6% in the fourth quarter. Isthmus Partners LLC now owns 87,307 shares of the company's stock valued at $2,356,000 after purchasing an additional 533 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Reynolds Consumer Products by 4.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock valued at $363,000 after purchasing an additional 566 shares during the period. Blue Trust Inc. increased its holdings in shares of Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock valued at $35,000 after purchasing an additional 698 shares during the period. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of Reynolds Consumer Products by 5.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company's stock valued at $443,000 after purchasing an additional 814 shares during the period. 26.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on REYN shares. Barclays cut their price objective on Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Evercore ISI cut their price objective on Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus cut their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Truist Financial dropped their target price on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Canaccord Genuity Group dropped their target price on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $28.33.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 2,500 shares of the stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the transaction, the director now owns 19,389 shares of the company's stock, valued at $450,212.58. This trade represents a 14.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.15% of the stock is currently owned by company insiders.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock traded down $0.16 during midday trading on Friday, hitting $21.98. 806,521 shares of the company were exchanged, compared to its average volume of 635,519. The firm has a market capitalization of $4.62 billion, a PE ratio of 13.08 and a beta of 0.61. The business has a fifty day simple moving average of $23.33 and a two-hundred day simple moving average of $25.34. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. Reynolds Consumer Products Inc. has a fifty-two week low of $21.63 and a fifty-two week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.23. The company had revenue of $801.00 million for the quarter, compared to the consensus estimate of $821.99 million. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. Reynolds Consumer Products's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 earnings per share. On average, sell-side 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 declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given 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 yield of 4.19%. Reynolds Consumer Products's dividend payout ratio is currently 57.50%.

Reynolds Consumer Products 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.