AlphaQuest LLC Has $1.21 Million Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

AlphaQuest LLC lifted its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 275.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,847 shares of the company's stock after purchasing an additional 32,888 shares during the period. AlphaQuest LLC's holdings in Reynolds Consumer Products were worth $1,210,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of REYN. Covestor Ltd boosted its stake in shares of Reynolds Consumer Products by 14.8% in the 3rd quarter. Covestor Ltd now owns 4,564 shares of the company's stock valued at $142,000 after purchasing an additional 588 shares during the last quarter. MML Investors Services LLC boosted its stake in Reynolds Consumer Products by 1.3% in the third quarter. MML Investors Services LLC now owns 48,700 shares of the company's stock valued at $1,515,000 after acquiring an additional 641 shares during the last quarter. Blue Trust Inc. grew its holdings in Reynolds Consumer Products by 115.2% during the 4th 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. Kestra Private Wealth Services LLC raised its position in shares of Reynolds Consumer Products by 5.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company's stock valued at $443,000 after acquiring an additional 814 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of Reynolds Consumer Products by 36.0% in the 4th quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock valued at $94,000 after purchasing an additional 921 shares during the period. 26.81% of the stock is owned by institutional investors.

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Reynolds Consumer Products Stock Down 0.3 %

Shares of REYN traded down $0.06 on Thursday, hitting $23.39. The company's stock had a trading volume of 549,454 shares, compared to its average volume of 638,804. 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 firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 13.92 and a beta of 0.56. The firm's fifty day moving average price is $25.69 and its 200-day moving average price is $27.98. Reynolds Consumer Products Inc. has a fifty-two week low of $23.20 and a fifty-two week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. On average, equities research analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.93%. Reynolds Consumer Products's payout ratio is presently 54.76%.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl bought 3,682 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, December 19th. The stock was acquired 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 owns 10,889 shares of the company's stock, valued at $299,447.50. This trade represents a 51.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on REYN shares. Barclays decreased their price objective on Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. decreased their target price on Reynolds Consumer Products from $30.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Evercore ISI cut their price target on shares of 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. Royal Bank of Canada reissued a "sector perform" rating and set a $32.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Finally, Canaccord Genuity Group lowered their target price on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Reynolds Consumer Products currently has a consensus rating of "Hold" and an average price target of $30.38.

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.