MQS Management LLC Buys New Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

MQS Management LLC purchased a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,149 shares of the company’s stock, valued at approximately $314,000.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Reynolds Consumer Products by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company’s stock worth $15,976,000 after purchasing an additional 19,044 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Reynolds Consumer Products by 14.8% in the 4th quarter. Victory Capital Management Inc. now owns 19,471 shares of the company’s stock valued at $526,000 after acquiring an additional 2,508 shares during the period. Atria Investments Inc increased its holdings in shares of Reynolds Consumer Products by 14.8% in the 4th quarter. Atria Investments Inc now owns 12,956 shares of the company’s stock valued at $350,000 after acquiring an additional 1,670 shares during the period. Proficio Capital Partners LLC purchased a new stake in Reynolds Consumer Products in the 4th quarter valued at $424,000. Finally, Raymond James Financial Inc. acquired a new stake in Reynolds Consumer Products during the 4th quarter worth $528,000. 26.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group dropped their price objective on shares of 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. Truist Financial cut their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus lowered their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. reduced their price objective on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.33.

Reynolds Consumer Products Trading Down 0.4%

Shares of REYN opened at $21.77 on Tuesday. Reynolds Consumer Products Inc. has a twelve month low of $20.91 and a twelve month high of $32.65. The company has a current ratio of 1.80, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4.58 billion, a P/E ratio of 13.61 and a beta of 0.57. The firm’s 50-day moving average is $22.01 and its two-hundred day moving average is $23.81.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The business had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $821.99 million. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, research analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given 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 4.23%. Reynolds Consumer Products’s dividend payout ratio is presently 57.50%.

Insider Activity

In other Reynolds Consumer Products news, Director Rolf Stangl bought 4,500 shares of the company’s stock in a transaction on Friday, June 20th. The stock was purchased at an average cost of $21.24 per share, for a total transaction of $95,580.00. Following the acquisition, the director owned 30,889 shares of the company’s stock, valued at $656,082.36. The trade was a 17.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Chris Mayrhofer purchased 5,048 shares of Reynolds Consumer Products stock in a transaction on Friday, May 30th. The stock was 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 approximately $511,619.34. This represents a 27.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 34,766 shares of company stock worth $765,632 over the last quarter. 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.