19,544 Shares in Reynolds Consumer Products Inc. (NASDAQ:REYN) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,544 shares of the company’s stock, valued at approximately $528,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of Reynolds Consumer Products by 115.2% during the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock valued at $35,000 after acquiring an additional 698 shares during the period. Eagle Bay Advisors LLC bought a new stake in Reynolds Consumer Products during the 4th quarter valued at about $40,000. Farther Finance Advisors LLC lifted its position in shares of Reynolds Consumer Products by 667.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock worth $70,000 after purchasing an additional 2,248 shares during the period. Venturi Wealth Management LLC grew its position in shares of Reynolds Consumer Products by 36.0% in the 4th quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company’s stock worth $94,000 after buying an additional 921 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Reynolds Consumer Products during the fourth quarter worth about $165,000. 26.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stifel Nicolaus decreased their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Evercore ISI dropped their target price on 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Canaccord Genuity Group reduced their price target on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Finally, Truist Financial reduced their target price on Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.33.

Insider Buying and Selling at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 2,500 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $23.22 per share, with a total value of $58,050.00. Following the purchase, the director now owns 19,389 shares in the company, valued at $450,212.58. This trade represents a 14.80 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

Reynolds Consumer Products Trading Up 1.3 %

Shares of REYN opened at $23.14 on Friday. 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 Inc. has a twelve month low of $21.90 and a twelve month high of $32.65. The stock’s fifty day simple moving average is $23.53 and its 200 day simple moving average is $25.79. The firm has a market capitalization of $4.87 billion, a P/E ratio of 13.77 and a beta of 0.61.

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

Reynolds Consumer Products Announces Dividend

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

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.