Ameriprise Financial Inc. increased its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 214.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,870 shares of the company's stock after purchasing an additional 14,241 shares during the period. Ameriprise Financial Inc.'s holdings in Reynolds Consumer Products were worth $563,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its holdings in Reynolds Consumer Products by 4.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock valued at $363,000 after acquiring an additional 566 shares during the last quarter. Barclays PLC increased its holdings in Reynolds Consumer Products by 173.9% in the 3rd quarter. Barclays PLC now owns 63,121 shares of the company's stock valued at $1,963,000 after acquiring an additional 40,075 shares during the last quarter. Stifel Financial Corp increased its holdings in Reynolds Consumer Products by 65.0% in the 4th quarter. Stifel Financial Corp now owns 153,845 shares of the company's stock valued at $4,152,000 after acquiring an additional 60,616 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Reynolds Consumer Products in the 4th quarter valued at $424,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $15,976,000 after acquiring an additional 19,044 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, CAO Chris Mayrhofer acquired 5,048 shares of the stock in a transaction on Friday, May 30th. The stock was bought at an average cost of $21.99 per share, with a total value of $111,005.52. Following the transaction, the chief accounting officer now directly owns 23,266 shares in the company, valued at approximately $511,619.34. This represents a 27.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Rolf Stangl acquired 2,500 shares of the stock in a transaction on Tuesday, May 6th. The stock was bought at an average cost of $23.22 per share, with a total value of $58,050.00. Following the completion of the transaction, the director now owns 19,389 shares in the company, valued at $450,212.58. This trade represents a 14.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 25,766 shares of company stock valued at $572,402. Company insiders own 0.15% of the company's stock.
Reynolds Consumer Products Trading Up 1.2%
Shares of REYN stock traded up $0.26 during trading hours on Friday, reaching $21.74. 1,132,577 shares of the stock were exchanged, compared to its average volume of 653,796. Reynolds Consumer Products Inc. has a 12-month low of $21.45 and a 12-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. The company's 50-day moving average price is $22.99 and its 200-day moving average price is $24.97. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 12.94 and a beta of 0.61.
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 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 during the quarter, compared to analysts' expectations of $821.99 million. During the same period in the previous year, the company earned $0.23 EPS. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.
Reynolds Consumer Products Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.23%. Reynolds Consumer Products's dividend payout ratio is presently 57.50%.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a report on Monday, April 28th. JPMorgan Chase & Co. reduced their price target on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Wall Street Zen upgraded shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Stifel Nicolaus dropped their price objective on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Finally, Truist Financial dropped 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 note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $28.33.
Check Out Our Latest Analysis on REYN
Reynolds Consumer Products Company Profile
(
Free Report)
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.
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