First Trust Advisors LP Has $55.51 Million Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

First Trust Advisors LP decreased its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,056,646 shares of the company's stock after selling 12,265 shares during the quarter. First Trust Advisors LP owned 0.98% of Reynolds Consumer Products worth $55,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in REYN. Norges Bank acquired a new stake in shares of Reynolds Consumer Products in the 4th quarter valued at approximately $17,964,000. Allspring Global Investments Holdings LLC increased its stake in Reynolds Consumer Products by 1.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company's stock valued at $351,564,000 after purchasing an additional 182,353 shares in the last quarter. Ceredex Value Advisors LLC raised its holdings in Reynolds Consumer Products by 58.1% in the fourth quarter. Ceredex Value Advisors LLC now owns 468,360 shares of the company's stock worth $12,641,000 after purchasing an additional 172,136 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Reynolds Consumer Products by 13.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company's stock worth $32,707,000 after purchasing an additional 139,576 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its holdings in shares of Reynolds Consumer Products by 143.8% in the 4th quarter. ExodusPoint Capital Management LP now owns 203,290 shares of the company's stock valued at $5,487,000 after buying an additional 119,911 shares during the period. Institutional investors own 26.81% of the company's stock.

Insider Buying and Selling

In other news, Director Rolf Stangl purchased 6,000 shares of the business's stock in a transaction on Monday, February 10th. The stock was purchased at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the purchase, the director now directly owns 16,889 shares in the company, valued at $420,367.21. The trade was a 55.10 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

REYN has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed 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. UBS Group decreased their price objective on Reynolds Consumer Products from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus lowered their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. cut their price target on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Barclays lowered their price objective on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Reynolds Consumer Products presently has an average rating of "Hold" and an average price target of $29.00.

Reynolds Consumer Products Stock Up 1.8 %

Reynolds Consumer Products stock opened at $24.08 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. Reynolds Consumer Products Inc. has a 1-year low of $21.90 and a 1-year high of $32.65. The company has a fifty day simple moving average of $23.81 and a 200 day simple moving average of $26.33. The company has a market cap of $5.06 billion, a P/E ratio of 14.33 and a beta of 0.64.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share 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%. Research analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.23 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.82%. Reynolds Consumer Products's dividend payout ratio is presently 54.76%.

About Reynolds Consumer Products

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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