First Trust Advisors LP Has $55.51 Million Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

First Trust Advisors LP reduced its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,056,646 shares of the company's stock after selling 12,265 shares during the quarter. First Trust Advisors LP owned 0.98% of Reynolds Consumer Products worth $55,509,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in REYN. 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 buying an additional 533 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Reynolds Consumer Products by 4.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock worth $363,000 after purchasing an additional 566 shares during the period. Blue Trust Inc. lifted its holdings 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 valued at $35,000 after purchasing an additional 698 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Reynolds Consumer Products by 5.2% in the 4th 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. Finally, Swiss National Bank increased its stake in Reynolds Consumer Products by 0.7% in the 4th quarter. Swiss National Bank now owns 124,000 shares of the company's stock worth $3,347,000 after purchasing an additional 900 shares in the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

REYN has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $32.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Canaccord Genuity Group cut their target price on shares of Reynolds Consumer Products from $30.00 to $27.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Barclays decreased their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Finally, Stifel Nicolaus dropped their price target on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Six investment 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 company has a consensus rating of "Hold" and a consensus target price of $28.78.

Insiders Place Their Bets

In other news, Director Rolf Stangl acquired 6,000 shares of Reynolds Consumer Products stock in a transaction dated Monday, February 10th. The stock was acquired at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the purchase, the director now owns 16,889 shares of the company's stock, valued at $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.15% of the company's stock.

Reynolds Consumer Products Stock Up 0.6 %

Shares of REYN traded up $0.13 during midday trading on Monday, reaching $23.35. 92,767 shares of the stock were exchanged, compared to its average volume of 606,542. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 13.89 and a beta of 0.64. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. Reynolds Consumer Products Inc. has a 12-month low of $21.90 and a 12-month high of $32.65. The firm has a 50 day simple moving average of $23.78 and a 200-day simple moving average of $26.17.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.92 annualized dividend and a yield of 3.94%. Reynolds Consumer Products's dividend payout ratio (DPR) is currently 54.76%.

About Reynolds Consumer Products

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.