Blue Trust Inc. Acquires 698 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Blue Trust Inc. raised its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 115.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,304 shares of the company’s stock after acquiring an additional 698 shares during the quarter. Blue Trust Inc.’s holdings in Reynolds Consumer Products were worth $35,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. ARGA Investment Management LP acquired a new stake in Reynolds Consumer Products in the third quarter valued at approximately $751,000. Barclays PLC increased its holdings in shares of Reynolds Consumer Products by 173.9% during the third quarter. Barclays PLC now owns 63,121 shares of the company’s stock worth $1,963,000 after buying an additional 40,075 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Reynolds Consumer Products in the 3rd quarter valued at $4,397,000. Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of Reynolds Consumer Products during the 3rd quarter valued at $5,731,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Reynolds Consumer Products during the 3rd quarter worth $851,000. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stifel Nicolaus cut their price target on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 target price on shares of Reynolds Consumer Products in a research report on Monday, February 3rd. Barclays decreased their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday. UBS Group cut their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Evercore ISI lowered their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Stock Performance

Shares of REYN opened at $24.97 on Monday. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. The firm’s fifty day simple moving average is $27.21 and its two-hundred day simple moving average is $28.78. Reynolds Consumer Products Inc. has a 12 month low of $24.79 and a 12 month high of $32.65. The stock has a market capitalization of $5.25 billion, a P/E ratio of 14.86 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, meeting 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 predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.68%. Reynolds Consumer Products’s payout ratio is presently 54.76%.

Insider Buying and Selling

In other news, Director Rolf Stangl acquired 3,682 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was purchased at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the acquisition, the director now directly owns 10,889 shares in the company, 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 SEC, which can be accessed through this link. Also, Director Helen Golding purchased 1,190 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average price of $27.58 per share, with a total value of $32,820.20. Following the purchase, the director now directly owns 1,190 shares in the company, valued at $32,820.20. This represents a ? increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

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.