107,563 Shares in Reynolds Consumer Products Inc. (NASDAQ:REYN) Bought by KBC Group NV

KBC Group NV purchased a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 107,563 shares of the company's stock, valued at approximately $2,903,000. KBC Group NV owned about 0.05% of Reynolds Consumer Products at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in REYN. True Wealth Design LLC bought a new stake in shares of Reynolds Consumer Products in the 3rd quarter valued at about $29,000. Blue Trust Inc. increased its position in Reynolds Consumer Products by 115.2% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after buying an additional 698 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in Reynolds Consumer Products in the fourth quarter valued at approximately $40,000. Capital Performance Advisors LLP acquired a new stake in shares of Reynolds Consumer Products in the third quarter valued at approximately $70,000. Finally, Abich Financial Wealth Management LLC boosted its stake in shares of Reynolds Consumer Products by 21.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company's stock worth $73,000 after acquiring an additional 414 shares during the period. Institutional investors and hedge funds own 26.81% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on REYN shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $32.00 price target on shares of Reynolds Consumer Products in a report on Monday. Barclays dropped their price objective on shares of Reynolds Consumer Products from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. UBS Group reduced their target price on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $30.86.

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock traded down $0.30 during trading on Tuesday, reaching $27.81. The company's stock had a trading volume of 942,568 shares, compared to its average volume of 501,544. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. The business's 50-day moving average price is $27.34 and its 200-day moving average price is $28.82. Reynolds Consumer Products Inc. has a 52 week low of $25.88 and a 52 week high of $32.65. The firm has a market cap of $5.84 billion, a PE ratio of 15.89 and a beta of 0.50.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.31%. Reynolds Consumer Products's payout ratio is presently 52.57%.

Insiders Place Their Bets

In related news, Director Rolf Stangl purchased 3,682 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average price of $27.50 per share, with a total value of $101,255.00. Following the completion of the transaction, the director now directly owns 10,889 shares of the company's stock, valued at $299,447.50. This represents a 51.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Helen Golding acquired 1,190 shares of the stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the purchase, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company's stock.

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.