Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 214.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,870 shares of the company’s stock after acquiring an additional 14,241 shares during the period. Ameriprise Financial Inc.’s holdings in Reynolds Consumer Products were worth $563,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised 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 worth $35,000 after acquiring an additional 698 shares in the last quarter. Quarry LP grew its stake in Reynolds Consumer Products by 187.0% during the 4th quarter. Quarry LP now owns 2,531 shares of the company’s stock worth $68,000 after buying an additional 1,649 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Reynolds Consumer Products by 667.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock worth $70,000 after buying an additional 2,248 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Reynolds Consumer Products by 36.0% during 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 position in Reynolds Consumer Products during the 4th quarter worth approximately $165,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

Wall Street Analysts Forecast Growth

REYN has been the topic of a number of research reports. Evercore ISI dropped their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Barclays dropped their price target on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. dropped their price target on Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. UBS Group dropped their price target on Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Finally, Canaccord Genuity Group dropped their price target on Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Reynolds Consumer Products currently has an average rating of “Hold” and a consensus price target of $28.33.

Insider Activity

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 2,500 shares of Reynolds Consumer Products stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $23.22 per share, with a total value of $58,050.00. Following the acquisition, the director now directly owns 19,389 shares of the company’s stock, valued at $450,212.58. This represents a 14.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Chris Mayrhofer acquired 18,218 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average cost of $22.14 per share, with a total value of $403,346.52. Following the completion of the acquisition, the chief accounting officer now owns 18,218 shares of the company’s stock, valued at $403,346.52. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired 25,766 shares of company stock valued at $572,402 in the last three months. 0.15% of the stock is currently owned by company insiders.

Reynolds Consumer Products Stock Performance

Shares of REYN stock opened at $21.90 on Wednesday. The business’s 50 day moving average is $23.11 and its two-hundred day moving average is $25.07. Reynolds Consumer Products Inc. has a twelve month low of $21.49 and a twelve month high of $32.65. The company has a market capitalization of $4.61 billion, a P/E ratio of 13.04 and a beta of 0.61. 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 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 return on equity of 17.14% and a net margin of 9.56%. The company had revenue of $801.00 million for the quarter, compared to the consensus estimate of $821.99 million. During the same period last year, the business posted $0.23 EPS. The company’s revenue was down 1.8% on a year-over-year basis. Equities analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.92 annualized dividend and a dividend yield of 4.20%. Reynolds Consumer Products’s dividend payout ratio is currently 57.50%.

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.