Canada Pension Plan Investment Board Purchases 47,300 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Canada Pension Plan Investment Board lifted its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 1,051.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,800 shares of the company's stock after purchasing an additional 47,300 shares during the period. Canada Pension Plan Investment Board's holdings in Reynolds Consumer Products were worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its position in Reynolds Consumer Products by 173.9% during the 3rd quarter. Barclays PLC now owns 63,121 shares of the company's stock worth $1,963,000 after buying an additional 40,075 shares during the period. World Investment Advisors LLC acquired a new position in shares of Reynolds Consumer Products during the third quarter worth $538,000. Eagle Bay Advisors LLC bought a new stake in shares of Reynolds Consumer Products in the fourth quarter worth $40,000. Oak Thistle LLC increased its holdings in Reynolds Consumer Products by 66.5% in the fourth quarter. Oak Thistle LLC now owns 11,797 shares of the company's stock valued at $318,000 after purchasing an additional 4,710 shares during the period. Finally, Park Avenue Securities LLC raised its position in Reynolds Consumer Products by 8.0% during the 4th quarter. Park Avenue Securities LLC now owns 14,864 shares of the company's stock worth $401,000 after purchasing an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.

Wall Street Analyst Weigh In

REYN has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Evercore ISI reduced their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada restated a "sector perform" rating and set a $32.00 price target on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Barclays reduced their price objective on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Finally, UBS Group lowered their target price on shares of Reynolds Consumer Products from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $28.63.

Reynolds Consumer Products Stock Down 2.0 %

Shares of NASDAQ REYN opened at $23.61 on Thursday. Reynolds Consumer Products Inc. has a 12-month low of $21.90 and a 12-month high of $32.65. 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 cap of $4.97 billion, a PE ratio of 14.05 and a beta of 0.64. The company's fifty day simple moving average is $23.80 and its 200 day simple moving average is $26.31.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued 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, sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 annualized dividend and a yield of 3.90%. Reynolds Consumer Products's payout ratio is 54.76%.

Insider Buying and Selling at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 6,000 shares of the firm's stock in a transaction 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 acquisition, the director now owns 16,889 shares of the company's stock, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.

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