SG Americas Securities LLC Buys 154,374 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

SG Americas Securities LLC grew its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 950.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc increased its position in shares of Reynolds Consumer Products by 38.1% in the first quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock valued at $61,000 after acquiring an additional 701 shares during the last quarter. Quarry LP increased its position in shares of Reynolds Consumer Products by 187.0% in 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% in 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% in 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 in the fourth quarter valued at about $165,000. Institutional investors and hedge funds own 26.81% of the company's stock.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ REYN traded down $0.60 during trading hours on Friday, reaching $21.12. 1,614,696 shares of the stock were exchanged, compared to its average volume of 671,684. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 12.57 and a beta of 0.58. 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 52 week low of $21.09 and a 52 week high of $32.65. The stock's fifty day simple moving average is $22.80 and its 200 day simple moving average is $24.74.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting analysts' consensus estimates of $0.23. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The firm's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. Sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Friday, May 16th. Reynolds Consumer Products's dividend payout ratio is currently 57.50%.

Insider Buying and Selling

In other Reynolds Consumer Products news, Director Rolf Stangl bought 4,500 shares of Reynolds Consumer Products stock in a transaction on Friday, June 6th. The shares were purchased at an average price of $21.70 per share, with a total value of $97,650.00. Following the acquisition, the director now owns 26,389 shares in the company, valued at $572,641.30. This trade represents a 20.56% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Chris Mayrhofer bought 18,218 shares of Reynolds Consumer Products stock in a transaction on Thursday, May 29th. The stock was acquired at an average cost of $22.14 per share, for a total transaction of $403,346.52. Following the acquisition, the chief accounting officer now owns 18,218 shares in the company, valued at approximately $403,346.52. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 30,266 shares of company stock valued at $670,052 over the last 90 days. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

REYN has been the topic of a number of recent research reports. Truist Financial lowered their target price on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus dropped their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. dropped their price objective on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. UBS Group dropped their price objective on Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Canaccord Genuity Group dropped their price objective on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $28.33.

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.