Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 667.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,585 shares of the company’s stock after buying an additional 2,248 shares during the period. Farther Finance Advisors LLC’s holdings in Reynolds Consumer Products were worth $70,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in REYN. Allspring Global Investments Holdings LLC raised its holdings in shares of Reynolds Consumer Products by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after acquiring an additional 182,353 shares during the period. Bank of New York Mellon Corp boosted its holdings in Reynolds Consumer Products by 13.0% in the 4th 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. grew its stake in shares of Reynolds Consumer Products by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company’s stock valued at $15,976,000 after buying an additional 19,044 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Reynolds Consumer Products during the 3rd quarter worth approximately $12,844,000. Finally, Olstein Capital Management L.P. raised its position in shares of Reynolds Consumer Products by 43.3% during the 4th quarter. Olstein Capital Management L.P. now owns 237,000 shares of the company’s stock valued at $6,397,000 after buying an additional 71,624 shares during the period. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock opened at $23.67 on Friday. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 14.09 and a beta of 0.56. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. The business has a 50-day moving average of $25.30 and a 200 day moving average of $27.61. Reynolds Consumer Products Inc. has a 12 month low of $23.13 and a 12 month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results 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%. As a group, sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.23 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.89%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 54.76%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on REYN. Stifel Nicolaus lowered their price objective on 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. JPMorgan Chase & Co. lowered their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Canaccord Genuity Group cut their price objective on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Barclays decreased their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, Royal Bank of Canada reiterated 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. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Reynolds Consumer Products has an average rating of “Hold” and a consensus price target of $30.38.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl bought 6,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $24.89 per share, with a total value of $149,340.00. Following the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.15% of the company’s stock.

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.