Reynolds Consumer Products Inc. (NASDAQ:REYN) Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,211,805 shares of the company’s stock after acquiring an additional 139,576 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of Reynolds Consumer Products worth $32,707,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in Reynolds Consumer Products during the 3rd quarter worth about $29,000. Blue Trust Inc. raised its holdings in 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 buying an additional 698 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Reynolds Consumer Products during the 4th quarter worth about $40,000. Capital Performance Advisors LLP acquired a new stake in Reynolds Consumer Products during the 3rd quarter worth about $70,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Reynolds Consumer Products by 93.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock valued at $80,000 after purchasing an additional 1,239 shares during the period. Institutional investors and hedge funds own 26.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on REYN shares. Stifel Nicolaus dropped their target price on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Canaccord Genuity Group dropped their target price on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. UBS Group dropped their target price on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Evercore ISI lowered their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock opened at $24.44 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. The stock has a fifty day moving average price of $25.86 and a two-hundred day moving average price of $28.13. Reynolds Consumer Products Inc. has a 52-week low of $23.35 and a 52-week high of $32.65. The firm has a market capitalization of $5.14 billion, a P/E ratio of 14.55 and a beta of 0.56.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. As a group, analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio is 54.76%.

Insider Activity at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the acquisition, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. The trade was a 55.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company 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.