Pictet Asset Management Holding SA Purchases 1,643 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Pictet Asset Management Holding SA raised its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 21.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,142 shares of the company’s stock after acquiring an additional 1,643 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Reynolds Consumer Products were worth $247,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New Age Alpha Advisors LLC acquired a new stake in Reynolds Consumer Products in the 4th quarter valued at about $165,000. Norges Bank acquired a new stake in Reynolds Consumer Products during the 4th quarter valued at $17,964,000. EntryPoint Capital LLC bought a new position in Reynolds Consumer Products during the fourth quarter worth $604,000. Cannon Global Investment Management LLC acquired a new position in shares of Reynolds Consumer Products in the fourth quarter valued at $348,000. Finally, Vanguard Group Inc. raised its position in shares of Reynolds Consumer Products by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company’s stock valued at $157,704,000 after purchasing an additional 17,756 shares during the period. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock opened at $23.28 on Friday. 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 cap of $4.90 billion, a PE ratio of 13.86 and a beta of 0.64. The company has a 50 day moving average of $24.07 and a 200-day moving average of $26.71. Reynolds Consumer Products Inc. has a 1-year low of $21.90 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, equities research 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 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 was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.95%. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 54.76%.

Insider Activity

In related news, Director Rolf Stangl acquired 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price of $24.89 per share, with a total value of $149,340.00. Following the purchase, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stifel Nicolaus reduced their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a report on Thursday. Evercore ISI decreased their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. UBS Group dropped their price target on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Canaccord Genuity Group decreased their price objective on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $29.88.

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.