Jacobs Levy Equity Management Inc. Acquires 35,951 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Jacobs Levy Equity Management Inc. raised its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 38.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 130,397 shares of the company's stock after acquiring an additional 35,951 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.06% of Reynolds Consumer Products worth $3,519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. lifted its stake in Reynolds Consumer Products by 115.2% during the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock valued at $35,000 after acquiring an additional 698 shares during the period. Quarry LP increased its holdings in Reynolds Consumer Products by 187.0% in the 4th quarter. Quarry LP now owns 2,531 shares of the company's stock worth $68,000 after acquiring an additional 1,649 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Reynolds Consumer Products by 667.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock worth $70,000 after acquiring an additional 2,248 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Reynolds Consumer Products by 36.0% in the 4th quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock worth $94,000 after acquiring an additional 921 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Reynolds Consumer Products in the 4th quarter worth approximately $165,000. Institutional investors own 26.81% of the company's stock.

Wall Street Analyst Weigh In

REYN has been the subject of several analyst reports. Canaccord Genuity Group reduced their target price on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Barclays reduced their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a report on Monday, April 28th. UBS Group cut their price objective on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. cut their price objective 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $28.33.

Insider Activity at Reynolds Consumer Products

In related news, Director Rolf Stangl purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average cost of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the transaction, the director now directly owns 19,389 shares in the company, valued at $450,212.58. This represents a 14.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by insiders.

Reynolds Consumer Products Price Performance

Shares of REYN stock traded up $0.13 on Tuesday, reaching $23.26. The company's stock had a trading volume of 101,203 shares, compared to its average volume of 628,084. The stock's fifty day simple moving average is $23.41 and its 200-day simple moving average is $25.46. Reynolds Consumer Products Inc. has a 1 year low of $21.90 and a 1 year 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 has a market capitalization of $4.89 billion, a price-to-earnings ratio of 13.85 and a beta of 0.61.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, meeting 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 analyst estimates of $821.99 million. During the same period last year, the firm posted $0.23 earnings per share. Reynolds Consumer Products's revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Friday, May 16th. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 57.50%.

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.