KLP Kapitalforvaltning AS Invests $364,000 in Reynolds Consumer Products Inc. (NASDAQ:REYN)

KLP Kapitalforvaltning AS bought a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,500 shares of the company's stock, valued at approximately $364,000.

Several other hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in Reynolds Consumer Products by 1.4% in the 4th 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 during the last quarter. Jane Street Group LLC raised its position in shares of Reynolds Consumer Products by 758.9% in the third quarter. Jane Street Group LLC now owns 167,722 shares of the company's stock valued at $5,216,000 after buying an additional 148,194 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Reynolds Consumer Products in the third quarter worth about $4,397,000. Bank of New York Mellon Corp boosted its position in 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 acquiring an additional 139,576 shares during the last quarter. Finally, KBC Group NV purchased a new stake in Reynolds Consumer Products during the 4th quarter valued at about $2,903,000. Institutional investors and hedge funds own 26.81% of the company's stock.

Reynolds Consumer Products Trading Up 0.1 %

Shares of Reynolds Consumer Products stock traded up $0.02 on Thursday, reaching $23.28. The company had a trading volume of 917,630 shares, compared to its average volume of 599,776. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The firm has a market cap of $4.90 billion, a PE ratio of 13.86 and a beta of 0.64. The firm's 50 day moving average price is $24.07 and its two-hundred day moving average price is $26.71. Reynolds Consumer Products Inc. has a 52-week low of $21.90 and a 52-week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, hitting 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 predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given 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 dividend yield of 3.95%. Reynolds Consumer Products's dividend payout ratio is presently 54.76%.

Insider Activity

In related news, Director Rolf Stangl bought 6,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the acquisition, the director now owns 16,889 shares in the company, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on REYN shares. Stifel Nicolaus lowered their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a report on Thursday. 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. Barclays cut their target price 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. reduced their price target 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. Finally, Evercore ISI dropped their price objective on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Reynolds Consumer Products currently has a consensus rating of "Hold" and an average target price of $29.88.

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.