Centiva Capital LP Acquires Shares of 18,498 Reynolds Consumer Products Inc. (NASDAQ:REYN)

Centiva Capital LP bought a new position in Reynolds Consumer Products Inc. (NASDAQ:REYN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,498 shares of the company’s stock, valued at approximately $499,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after acquiring an additional 698 shares during the period. Eagle Bay Advisors LLC acquired a new position in Reynolds Consumer Products in the 4th quarter worth about $40,000. Quarry LP boosted its position in Reynolds Consumer Products by 187.0% during the fourth quarter. Quarry LP now owns 2,531 shares of the company’s stock worth $68,000 after purchasing an additional 1,649 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock valued at $70,000 after purchasing an additional 2,248 shares during the period. Finally, Venturi Wealth Management LLC increased its position in shares of Reynolds Consumer Products by 36.0% in the fourth quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company’s stock valued at $94,000 after buying an additional 921 shares in the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on REYN. Barclays decreased their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Evercore ISI cut their target price on shares of 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. UBS Group lowered their price objective on Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Canaccord Genuity Group lowered their target price on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Finally, Truist Financial reduced their price objective on Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $28.33.

Reynolds Consumer Products Stock Down 0.3 %

NASDAQ:REYN opened at $23.10 on Friday. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 13.75 and a beta of 0.61. Reynolds Consumer Products Inc. has a 52 week low of $21.90 and a 52 week high of $32.65. The stock’s fifty day moving average is $23.52 and its two-hundred day moving average is $25.71.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The company had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $821.99 million. During the same quarter last year, the company posted $0.23 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. Research analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Friday, May 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 57.50%.

Insider Activity at Reynolds Consumer Products

In related news, Director Rolf Stangl purchased 6,000 shares of Reynolds Consumer Products stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $24.89 per share, with a total value of $149,340.00. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is currently owned by corporate 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.