Envestnet Asset Management Inc. Has $7.22 Million Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Envestnet Asset Management Inc. decreased its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 267,404 shares of the company’s stock after selling 4,539 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.13% of Reynolds Consumer Products worth $7,217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in Reynolds Consumer Products by 8.8% in the fourth quarter. Wells Fargo & Company MN now owns 61,080 shares of the company’s stock valued at $1,649,000 after acquiring an additional 4,948 shares during the last quarter. ExodusPoint Capital Management LP raised its stake in shares of Reynolds Consumer Products by 143.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 203,290 shares of the company’s stock worth $5,487,000 after buying an additional 119,911 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Reynolds Consumer Products by 47.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 103,494 shares of the company’s stock valued at $2,793,000 after buying an additional 33,239 shares during the period. Geode Capital Management LLC boosted its stake in Reynolds Consumer Products by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,072,422 shares of the company’s stock valued at $28,953,000 after acquiring an additional 26,664 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in Reynolds Consumer Products during the 4th quarter worth $1,615,000. 26.81% of the stock is owned by institutional investors and hedge funds.

Reynolds Consumer Products Stock Up 2.4 %

REYN stock opened at $23.65 on Monday. The business has a 50-day moving average of $23.83 and a 200-day moving average of $26.39. Reynolds Consumer Products Inc. has a fifty-two week low of $21.90 and a fifty-two week high of $32.65. The stock has a market capitalization of $4.97 billion, a P/E ratio of 14.08 and a beta of 0.64. 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 posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio (DPR) is 54.76%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Barclays lowered their price target on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. UBS Group lowered their target price on shares of Reynolds Consumer Products from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday. Evercore ISI reduced 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 research report on Thursday, February 6th. Finally, Canaccord Genuity Group dropped their price objective on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.00.

Insider Activity

In other news, Director Rolf Stangl purchased 6,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was purchased at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the purchase, the director now directly owns 16,889 shares in the company, valued at $420,367.21. The trade was a 55.10 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by insiders.

About Reynolds Consumer Products

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.