Envestnet Portfolio Solutions Inc. Acquires 566 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Envestnet Portfolio Solutions Inc. raised its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,432 shares of the company’s stock after buying an additional 566 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Reynolds Consumer Products were worth $363,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its stake in Reynolds Consumer Products by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock valued at $351,564,000 after acquiring an additional 182,353 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Reynolds Consumer Products by 13.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock valued at $32,707,000 after purchasing an additional 139,576 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Reynolds Consumer Products by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company’s stock valued at $15,976,000 after purchasing an additional 19,044 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Reynolds Consumer Products during the 3rd quarter worth about $12,844,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Reynolds Consumer Products by 19.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 334,535 shares of the company’s stock worth $9,029,000 after buying an additional 54,203 shares during the period. 26.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Rolf Stangl purchased 6,000 shares of the stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the acquisition, the director now owns 16,889 shares of the company’s stock, valued at approximately $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Reynolds Consumer Products Stock Performance

NASDAQ REYN opened at $23.39 on Thursday. The firm’s 50 day simple moving average is $25.11 and its 200 day simple moving average is $27.42. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 13.92 and a beta of 0.56. 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 Inc. has a 1 year low of $23.13 and a 1 year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. As a group, research analysts expect that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.93%. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 54.76%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays lowered their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 price target on shares of Reynolds Consumer Products in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. UBS Group decreased their target price on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Stifel Nicolaus dropped their price target on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.38.

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.