SG Americas Securities LLC Grows Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

SG Americas Securities LLC boosted its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 950.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,615 shares of the company's stock after purchasing an additional 154,374 shares during the period. SG Americas Securities LLC owned approximately 0.08% of Reynolds Consumer Products worth $4,071,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of REYN. Versant Capital Management Inc raised its stake 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 worth $61,000 after purchasing an additional 701 shares during the period. Quarry LP increased 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 valued at $68,000 after acquiring an additional 1,649 shares during the last quarter. Farther Finance Advisors LLC increased 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 valued at $70,000 after acquiring an additional 2,248 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of 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 acquiring an additional 921 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Reynolds Consumer Products during the fourth quarter valued at about $165,000. 26.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Chris Mayrhofer acquired 5,048 shares of Reynolds Consumer Products stock in a transaction dated Friday, May 30th. The stock was acquired at an average price of $21.99 per share, for a total transaction of $111,005.52. Following the transaction, the chief accounting officer now owns 23,266 shares of the company's stock, valued at $511,619.34. This represents a 27.71% 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. Also, Director Rolf Stangl acquired 2,500 shares of Reynolds Consumer Products stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $23.22 per share, with a total value of $58,050.00. Following the transaction, the director now directly owns 19,389 shares in the company, valued at approximately $450,212.58. The trade was a 14.80% increase in their position. The disclosure for this purchase can be found here. Insiders bought 30,266 shares of company stock worth $670,052 over the last 90 days. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

REYN has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. UBS Group dropped their price target 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. Stifel Nicolaus dropped their price target 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. Canaccord Genuity Group dropped 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. Finally, Truist Financial dropped their price target 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. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $28.33.

Reynolds Consumer Products Stock Down 1.3%

Shares of REYN stock traded down $0.27 during trading on Tuesday, reaching $21.12. The company's stock had a trading volume of 1,246,279 shares, compared to its average volume of 678,672. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.80 and a quick ratio of 0.72. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 13.20 and a beta of 0.58. The stock's 50-day moving average price is $22.74 and its 200 day moving average price is $24.65. Reynolds Consumer Products Inc. has a 1-year low of $21.00 and a 1-year 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. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.87%. The company had revenue of $801.00 million during the quarter, compared to the consensus estimate of $821.99 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The firm's quarterly revenue was down 1.8% on a year-over-year basis. On average, research analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

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 $0.23 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 4.36%. Reynolds Consumer Products's dividend payout ratio is currently 57.50%.

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.