Proficio Capital Partners LLC Buys Shares of 15,708 Reynolds Consumer Products Inc. (NASDAQ:REYN)

Proficio Capital Partners LLC purchased a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 15,708 shares of the company’s stock, valued at approximately $424,000.

Other large investors have also bought and sold shares of the company. Verition Fund Management LLC bought a new position in shares of Reynolds Consumer Products during the 3rd quarter worth approximately $12,844,000. Allspring Global Investments Holdings LLC lifted its holdings in Reynolds Consumer Products by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock valued at $351,564,000 after purchasing an additional 182,353 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Reynolds Consumer Products by 758.9% during the third quarter. Jane Street Group LLC now owns 167,722 shares of the company’s stock worth $5,216,000 after buying an additional 148,194 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Reynolds Consumer Products during the third quarter worth $4,397,000. Finally, Bank of New York Mellon Corp raised its stake in Reynolds Consumer Products by 13.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock valued at $32,707,000 after purchasing an additional 139,576 shares in the last quarter. 26.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on REYN shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 target price on shares of Reynolds Consumer Products in a research report on Monday, February 3rd. Canaccord Genuity Group lowered their target price on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Evercore ISI lowered their target price on 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 target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Stifel Nicolaus cut their price target on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.38.

Reynolds Consumer Products Stock Performance

NASDAQ:REYN opened at $24.60 on Tuesday. The stock has a market cap of $5.17 billion, a P/E ratio of 14.64 and a beta of 0.56. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. Reynolds Consumer Products Inc. has a twelve month low of $23.35 and a twelve month high of $32.65. The business’s 50-day moving average price is $25.81 and its two-hundred day moving average price is $28.06.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. As a group, equities analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.23 per share. The ex-dividend date was Friday, February 14th. This represents a $0.92 annualized dividend and a yield of 3.74%. Reynolds Consumer Products’s payout ratio is 54.76%.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl bought 3,682 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were acquired at an average cost of $27.50 per share, with a total value of $101,255.00. Following the completion of the acquisition, the director now owns 10,889 shares of the company’s stock, valued at $299,447.50. The trade was a 51.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.