Jacobs Levy Equity Management Inc. Raises Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Jacobs Levy Equity Management Inc. raised its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 38.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,397 shares of the company's stock after acquiring an additional 35,951 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.06% of Reynolds Consumer Products worth $3,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in REYN. Blue Trust Inc. increased its holdings 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 in the last quarter. Quarry LP increased its holdings in Reynolds Consumer Products by 187.0% during the 4th quarter. Quarry LP now owns 2,531 shares of the company's stock valued at $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% during the 4th 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 in the last quarter. Venturi Wealth Management LLC increased its holdings in Reynolds Consumer Products by 36.0% during the 4th 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 in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in Reynolds Consumer Products during the 4th quarter valued at about $165,000. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Rolf Stangl purchased 2,500 shares of the business's stock in a transaction on 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 completion of the purchase, the director now directly owns 19,389 shares in the company, valued at approximately $450,212.58. This trade represents a 14.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by insiders.

Reynolds Consumer Products Trading Down 0.4%

REYN stock traded down $0.09 on Friday, hitting $23.11. 1,118,224 shares of the company were exchanged, compared to its average volume of 629,367. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 13.76 and a beta of 0.61. Reynolds Consumer Products Inc. has a twelve month low of $21.90 and a twelve month high of $32.65. The business's fifty day moving average is $23.42 and its two-hundred day moving average is $25.49.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly 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 the consensus estimate of $821.99 million. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Reynolds Consumer Products's revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share. As a group, research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Friday, May 16th. Reynolds Consumer Products's dividend payout ratio is currently 57.50%.

Analyst Ratings Changes

Several research firms have issued reports on REYN. Evercore ISI decreased their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus decreased their price target on shares of 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. decreased 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 research note on Friday, April 11th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $30.00 price target on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Finally, UBS Group decreased their price target on shares of 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. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $28.33.

Reynolds Consumer Products 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.