BNP Paribas Financial Markets Purchases New Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

BNP Paribas Financial Markets purchased a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 59,448 shares of the company’s stock, valued at approximately $1,605,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ariel Investments LLC increased its position in Reynolds Consumer Products by 6.1% during the 4th quarter. Ariel Investments LLC now owns 7,446 shares of the company’s stock valued at $201,000 after buying an additional 426 shares in the last quarter. Isthmus Partners LLC boosted its stake in shares of Reynolds Consumer Products by 0.6% in the fourth quarter. Isthmus Partners LLC now owns 87,307 shares of the company’s stock worth $2,356,000 after buying an additional 533 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Reynolds Consumer Products by 4.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company’s stock worth $363,000 after purchasing an additional 566 shares during the period. Blue Trust Inc. increased its holdings in Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock valued at $35,000 after buying an additional 698 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in Reynolds Consumer Products by 5.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company’s stock worth $443,000 after purchasing an additional 814 shares during the period. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Insider Buying and Selling at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl bought 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average price of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the purchase, the director now owns 19,389 shares of the company’s stock, valued at approximately $450,212.58. This represents a 14.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on REYN. Evercore ISI reduced their price objective on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Barclays lowered their price objective on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus dropped their price target on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. UBS Group cut their price objective on Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.33.

Reynolds Consumer Products Stock Performance

Shares of REYN opened at $23.11 on Monday. Reynolds Consumer Products Inc. has a 1 year low of $21.90 and a 1 year high of $32.65. The stock has a 50-day simple moving average of $23.42 and a 200-day simple moving average of $25.48. 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 stock has a market capitalization of $4.86 billion, a PE ratio of 13.76 and a beta of 0.61.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $821.99 million. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. On average, analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

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

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.