Charles Schwab Investment Management Inc. Raises Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Charles Schwab Investment Management Inc. increased its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 591,906 shares of the company’s stock after purchasing an additional 19,044 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.28% of Reynolds Consumer Products worth $15,976,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Atria Investments Inc increased its position in shares of Reynolds Consumer Products by 16.1% in the third quarter. Atria Investments Inc now owns 11,286 shares of the company’s stock valued at $351,000 after acquiring an additional 1,565 shares during the period. Victory Capital Management Inc. increased its position in shares of Reynolds Consumer Products by 8.7% in the third quarter. Victory Capital Management Inc. now owns 16,963 shares of the company’s stock valued at $528,000 after acquiring an additional 1,351 shares during the period. Landscape Capital Management L.L.C. increased its position in shares of Reynolds Consumer Products by 38.4% in the third quarter. Landscape Capital Management L.L.C. now owns 130,256 shares of the company’s stock valued at $4,051,000 after acquiring an additional 36,146 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Reynolds Consumer Products by 22.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 70,255 shares of the company’s stock valued at $2,185,000 after acquiring an additional 12,798 shares during the period. Finally, Cerity Partners LLC increased its position in shares of Reynolds Consumer Products by 6.9% in the third quarter. Cerity Partners LLC now owns 22,682 shares of the company’s stock valued at $705,000 after acquiring an additional 1,457 shares during the period. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Trading Down 1.1 %

NASDAQ:REYN opened at $23.64 on Friday. Reynolds Consumer Products Inc. has a one year low of $23.13 and a one year high of $32.65. 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 company’s 50-day simple moving average is $25.34 and its 200 day simple moving average is $27.69. The firm has a market capitalization of $4.97 billion, a P/E ratio of 14.07 and a beta of 0.56.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data 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 net margin of 9.56% and a return on equity of 17.14%. As a group, analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.89%. The ex-dividend date was Friday, February 14th. Reynolds Consumer Products’s payout ratio is currently 54.76%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on REYN. UBS Group decreased their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Evercore ISI decreased their price objective 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. JPMorgan Chase & Co. decreased their price objective on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 target price on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Finally, Stifel Nicolaus cut their target price on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and two have given 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 target price of $30.38.

Insiders Place Their Bets

In other news, Director Rolf Stangl bought 6,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $24.89 per share, with a total value of $149,340.00. Following the completion of the acquisition, the director now owns 16,889 shares of the company’s stock, valued at approximately $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Reynolds Consumer Products 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.