LPL Financial LLC Acquires 11,582 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

LPL Financial LLC boosted its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 38.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,841 shares of the company’s stock after acquiring an additional 11,582 shares during the quarter. LPL Financial LLC’s holdings in Reynolds Consumer Products were worth $1,129,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in REYN. Allspring Global Investments Holdings LLC boosted its position in shares of Reynolds Consumer Products by 1.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock valued at $351,564,000 after buying an additional 182,353 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 worth $32,707,000 after acquiring an additional 139,576 shares in the last quarter. KBC Group NV bought a new position in shares of Reynolds Consumer Products during the fourth quarter valued at about $2,903,000. Sei Investments Co. boosted its holdings in Reynolds Consumer Products by 13.7% during the fourth quarter. Sei Investments Co. now owns 766,463 shares of the company’s stock worth $20,687,000 after purchasing an additional 92,473 shares during the last quarter. Finally, Olstein Capital Management L.P. grew its position in Reynolds Consumer Products by 43.3% in the 4th quarter. Olstein Capital Management L.P. now owns 237,000 shares of the company’s stock worth $6,397,000 after purchasing an additional 71,624 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on REYN shares. Canaccord Genuity Group decreased their price target 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. Evercore ISI cut their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. UBS Group decreased their price objective on shares of Reynolds Consumer Products from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $29.00.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 6,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average cost of $24.89 per share, with a total value of $149,340.00. Following the acquisition, the director now 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.15% of the company’s stock.

Reynolds Consumer Products Trading Up 2.4 %

Reynolds Consumer Products stock opened at $23.65 on Friday. Reynolds Consumer Products Inc. has a 12 month low of $21.90 and a 12 month high of $32.65. The business’s fifty day simple moving average is $23.83 and its two-hundred day simple moving average is $26.41. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 14.08 and a beta of 0.64. 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 (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) 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%. As a group, equities analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

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

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.