Stifel Financial Corp Increases Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Stifel Financial Corp lifted its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 65.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 153,845 shares of the company's stock after acquiring an additional 60,616 shares during the quarter. Stifel Financial Corp owned 0.07% of Reynolds Consumer Products worth $4,152,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in REYN. Tower Research Capital LLC TRC grew its position in Reynolds Consumer Products by 335.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 17,643 shares of the company's stock worth $476,000 after acquiring an additional 13,587 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Reynolds Consumer Products by 10.3% in the fourth quarter. MML Investors Services LLC now owns 53,736 shares of the company's stock worth $1,450,000 after purchasing an additional 5,036 shares during the last quarter. Natixis purchased a new position in shares of Reynolds Consumer Products in the fourth quarter worth $1,256,000. Dimensional Fund Advisors LP increased its stake in shares of Reynolds Consumer Products by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company's stock worth $63,586,000 after buying an additional 275,601 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Reynolds Consumer Products by 1,051.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 51,800 shares of the company's stock valued at $1,398,000 after buying an additional 47,300 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company's stock.

Insider Activity at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 6,000 shares of Reynolds Consumer Products stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average price of $24.89 per share, with a total value of $149,340.00. Following the transaction, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore ISI cut 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 report on Thursday, February 6th. JPMorgan Chase & Co. cut their target price 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. Stifel Nicolaus lowered their price target on 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 objective on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a report on Thursday. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $28.33.

Reynolds Consumer Products Stock Down 0.1 %

Reynolds Consumer Products stock traded down $0.02 during trading hours on Monday, hitting $23.29. 669,746 shares of the stock traded hands, compared to its average volume of 617,517. Reynolds Consumer Products Inc. has a one year low of $21.90 and a one year high of $32.65. The company has a market cap of $4.90 billion, a PE ratio of 13.86 and a beta of 0.61. The firm's 50-day moving average price is $23.65 and its two-hundred day moving average price is $25.92. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, meeting the consensus estimate 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 revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. On average, research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.23 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.95%. Reynolds Consumer Products's payout ratio is 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.