T. Rowe Price Investment Management Inc. Purchases 14,100 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

T. Rowe Price Investment Management Inc. raised its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,062,468 shares of the company's stock after purchasing an additional 14,100 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.84% of Reynolds Consumer Products worth $217,607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted 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 purchasing an additional 698 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Reynolds Consumer Products during the 4th quarter worth about $40,000. Farther Finance Advisors LLC raised 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 worth $70,000 after buying an additional 2,248 shares during the period. Venturi Wealth Management LLC raised 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 worth $94,000 after buying an additional 921 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in Reynolds Consumer Products during the 4th quarter worth about $165,000. 26.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Rolf Stangl bought 6,000 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were bought at an average price of $24.89 per share, with a total value of $149,340.00. Following the completion of the transaction, the director now owns 16,889 shares of the company's stock, valued at $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on REYN. UBS Group cut their price objective on Reynolds Consumer Products from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Canaccord Genuity Group lowered their price target on Reynolds Consumer Products from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Royal Bank of Canada reiterated a "sector perform" rating and set a $30.00 price target on shares of Reynolds Consumer Products in a report on Monday. JPMorgan Chase & Co. cut their price target on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Barclays cut 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 note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Reynolds Consumer Products has a consensus rating of "Hold" and an average price target of $28.56.

Reynolds Consumer Products Trading Up 1.0 %

NASDAQ:REYN traded up $0.24 during trading hours on Tuesday, hitting $23.60. The stock had a trading volume of 261,909 shares, compared to its average volume of 607,640. Reynolds Consumer Products Inc. has a one year low of $21.90 and a one year high of $32.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 14.05 and a beta of 0.64. The business's 50 day moving average is $23.77 and its 200-day moving average is $26.13.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Sell-side analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Friday, May 16th. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 54.76%.

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.