Raymond James Financial Inc. Makes New Investment in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Raymond James Financial Inc. acquired a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,544 shares of the company's stock, valued at approximately $528,000.

A number of other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its position in Reynolds Consumer Products by 115.2% in the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock valued at $35,000 after acquiring an additional 698 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Reynolds Consumer Products during the fourth quarter worth about $40,000. Venturi Wealth Management LLC raised its holdings 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 worth $94,000 after purchasing an additional 921 shares during the period. Global Retirement Partners LLC lifted its position in shares of Reynolds Consumer Products by 29.5% during the 4th quarter. Global Retirement Partners LLC now owns 6,953 shares of the company's stock valued at $188,000 after buying an additional 1,584 shares during the last quarter. Finally, Impact Partnership Wealth LLC lifted its holdings in Reynolds Consumer Products by 19.6% during the fourth quarter. Impact Partnership Wealth LLC now owns 9,850 shares of the company's stock valued at $266,000 after purchasing an additional 1,617 shares during the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on REYN. Evercore ISI cut 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 research report on Thursday, February 6th. Stifel Nicolaus lowered their price target on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a report on Thursday. UBS Group cut their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Barclays decreased 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 report on Thursday, February 6th. Finally, Canaccord Genuity Group dropped 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 report 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $29.38.

Insider Activity

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 6,000 shares of Reynolds Consumer Products stock in a transaction dated Monday, February 10th. The stock was purchased at an average price of $24.89 per share, with a total value of $149,340.00. Following the transaction, the director now directly owns 16,889 shares of the company's stock, valued at $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company's stock.

Reynolds Consumer Products Stock Up 2.7 %

Shares of NASDAQ REYN traded up $0.62 during trading on Friday, reaching $23.90. The company had a trading volume of 777,464 shares, compared to its average volume of 601,052. The business's 50-day moving average is $23.99 and its 200 day moving average is $26.66. 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 stock has a market cap of $5.03 billion, a PE ratio of 14.23 and a beta of 0.64. Reynolds Consumer Products Inc. has a 12-month low of $21.90 and a 12-month high of $32.65.

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, hitting analysts' consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. As a group, equities analysts forecast 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 announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid 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 yield of 3.85%. Reynolds Consumer Products's dividend payout ratio is presently 54.76%.

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.