XTX Topco Ltd Makes New $248,000 Investment in Reynolds Consumer Products Inc. (NASDAQ:REYN)

XTX Topco Ltd acquired a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,408 shares of the company’s stock, valued at approximately $248,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Cerity Partners LLC boosted its holdings in shares of Reynolds Consumer Products by 418.8% in the 1st quarter. Cerity Partners LLC now owns 61,821 shares of the company’s stock valued at $1,475,000 after buying an additional 49,904 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Reynolds Consumer Products by 1,493.1% in the 1st quarter. GAMMA Investing LLC now owns 20,233 shares of the company’s stock valued at $483,000 after buying an additional 18,963 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Reynolds Consumer Products by 5.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 281,648 shares of the company’s stock valued at $6,720,000 after buying an additional 14,244 shares during the period. Hunter Perkins Capital Management LLC acquired a new position in shares of Reynolds Consumer Products in the 1st quarter valued at about $649,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Reynolds Consumer Products by 214.8% in the 4th quarter. Ameriprise Financial Inc. now owns 20,870 shares of the company’s stock valued at $563,000 after buying an additional 14,241 shares during the period. 26.81% of the stock is owned by institutional investors and hedge funds.

Reynolds Consumer Products Stock Down 1.4%

REYN stock opened at $22.54 on Tuesday. Reynolds Consumer Products Inc. has a 52 week low of $20.91 and a 52 week high of $32.65. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 15.13 and a beta of 0.58. The firm’s 50-day moving average is $21.79 and its two-hundred day moving average is $23.16. The company has a current ratio of 1.85, a quick ratio of 0.75 and a debt-to-equity ratio of 0.75.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Reynolds Consumer Products had a net margin of 8.44% and a return on equity of 16.00%. The company had revenue of $938.00 million for the quarter, compared to the consensus estimate of $899.05 million. During the same period in the previous year, the firm earned $0.46 EPS. Reynolds Consumer Products’s revenue was up .9% on a year-over-year basis. On average, analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, August 15th. Reynolds Consumer Products’s payout ratio is presently 61.74%.

Insider Buying and Selling

In other Reynolds Consumer Products news, CAO Chris Mayrhofer bought 5,048 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average cost of $21.99 per share, for a total transaction of $111,005.52. Following the acquisition, the chief accounting officer directly owned 23,266 shares of the company’s stock, valued at $511,619.34. This trade represents a 27.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Rolf Stangl bought 4,500 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The stock was acquired at an average price of $21.24 per share, for a total transaction of $95,580.00. Following the completion of the acquisition, the director directly owned 30,889 shares in the company, valued at approximately $656,082.36. This represents a 17.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 32,266 shares of company stock worth $707,582 over the last quarter. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

REYN has been the subject of several research reports. Truist Financial decreased their price target on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Wall Street Zen raised shares of Reynolds Consumer Products from a “sell” rating to a “hold” rating in a report on Friday, May 30th. UBS Group lifted their price target on shares of Reynolds Consumer Products from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Canaccord Genuity Group decreased 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 report on Thursday, May 1st. Finally, Barclays lifted their price target on shares of Reynolds Consumer Products from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.00.

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.