Cannon Global Investment Management LLC Buys Shares of 12,900 Reynolds Consumer Products Inc. (NASDAQ:REYN)

Cannon Global Investment Management LLC purchased a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 12,900 shares of the company's stock, valued at approximately $348,000.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in Reynolds Consumer Products by 8.7% during the third quarter. Victory Capital Management Inc. now owns 16,963 shares of the company's stock worth $528,000 after purchasing an additional 1,351 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Reynolds Consumer Products by 22.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 70,255 shares of the company's stock worth $2,185,000 after buying an additional 12,798 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Reynolds Consumer Products by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 572,862 shares of the company's stock worth $17,816,000 after buying an additional 6,065 shares during the period. Cerity Partners LLC grew its position in shares of Reynolds Consumer Products by 6.9% during the 3rd quarter. Cerity Partners LLC now owns 22,682 shares of the company's stock worth $705,000 after buying an additional 1,457 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Reynolds Consumer Products during the 3rd quarter valued at $851,000. 26.81% of the stock is owned by institutional investors.

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock traded down $0.02 during mid-day trading on Friday, hitting $23.80. 489,496 shares of the stock were exchanged, compared to its average volume of 581,748. Reynolds Consumer Products Inc. has a 12 month low of $23.13 and a 12 month high of $32.65. The company has a 50-day simple moving average of $24.99 and a 200 day simple moving average of $27.33. The company has a market capitalization of $5.01 billion, a P/E ratio of 14.17 and a beta of 0.56. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04.

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Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, meeting analysts' consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. Sell-side analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products's dividend payout ratio (DPR) is currently 54.76%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group cut their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Canaccord Genuity Group dropped their price target on Reynolds Consumer Products from $31.00 to $30.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Evercore ISI reduced their price objective on 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. 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 report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their target price on 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $30.38.

Insider Buying and Selling

In related news, Director Rolf Stangl acquired 6,000 shares of the stock in a transaction on Monday, February 10th. The shares were acquired at an average price of $24.89 per share, with a total value of $149,340.00. Following the completion of the transaction, the director now owns 16,889 shares in the company, valued at approximately $420,367.21. The trade was a 55.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.15% 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.