Charles Schwab Investment Management Inc. Grows Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Charles Schwab Investment Management Inc. increased its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.3% in the 4th quarter, Holdings Channel reports. The firm owned 591,906 shares of the company’s stock after buying an additional 19,044 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Reynolds Consumer Products were worth $15,976,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Versor Investments LP raised its holdings in shares of Reynolds Consumer Products by 96.7% during the fourth quarter. Versor Investments LP now owns 24,212 shares of the company’s stock valued at $653,000 after purchasing an additional 11,900 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Reynolds Consumer Products during the fourth quarter valued at approximately $424,000. Bank of New York Mellon Corp raised its holdings in shares of Reynolds Consumer Products by 13.0% during 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. Hussman Strategic Advisors Inc. purchased a new stake in Reynolds Consumer Products during the fourth quarter valued at approximately $1,134,000. Finally, Ieq Capital LLC increased its holdings in Reynolds Consumer Products by 300.6% during the fourth quarter. Ieq Capital LLC now owns 30,657 shares of the company’s stock valued at $827,000 after buying an additional 23,005 shares during the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Reynolds Consumer Products news, Director Rolf Stangl acquired 6,000 shares of the stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the transaction, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is owned by company insiders.

Reynolds Consumer Products Stock Performance

REYN opened at $23.64 on Friday. The firm has a market cap of $4.97 billion, a P/E ratio of 14.07 and a beta of 0.56. Reynolds Consumer Products Inc. has a 1-year low of $23.13 and a 1-year high of $32.65. The company has a 50 day simple moving average of $25.34 and a two-hundred day simple moving average of $27.69. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99.

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, hitting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Equities analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.23 per share. 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 3.89%. Reynolds Consumer Products’s dividend payout ratio is 54.76%.

Analyst Ratings Changes

A number of brokerages have commented on REYN. Evercore ISI reduced their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Barclays reduced their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Canaccord Genuity Group reduced their target price on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus reduced their target price on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. reduced their target price 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.