Ieq Capital LLC Purchases 23,005 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Ieq Capital LLC increased its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 300.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,657 shares of the company's stock after buying an additional 23,005 shares during the quarter. Ieq Capital LLC's holdings in Reynolds Consumer Products were worth $827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC increased 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 worth $188,000 after purchasing an additional 1,584 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Reynolds Consumer Products by 36.0% in the fourth quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock valued at $94,000 after buying an additional 921 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Reynolds Consumer Products by 1.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company's stock worth $351,564,000 after purchasing an additional 182,353 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Reynolds Consumer Products by 5.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company's stock worth $443,000 after purchasing an additional 814 shares during the last quarter. Finally, KBC Group NV acquired a new position in Reynolds Consumer Products during the fourth quarter worth $2,903,000. Institutional investors and hedge funds own 26.81% of the company's stock.

Analyst Upgrades and Downgrades

REYN has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price objective on Reynolds Consumer Products from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. UBS Group lowered their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Canaccord Genuity Group lowered their price objective on Reynolds Consumer Products from $31.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. Evercore ISI decreased their target price on 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. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of "Hold" and an average target price of $30.38.

Reynolds Consumer Products Price Performance

Shares of REYN stock traded down $0.04 during trading hours on Friday, hitting $24.36. The company had a trading volume of 100,873 shares, compared to its average volume of 615,210. Reynolds Consumer Products Inc. has a 12 month low of $23.61 and a 12 month high of $32.65. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 14.51 and a beta of 0.50. The firm's fifty day moving average is $26.24 and its 200 day moving average is $28.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings data 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%. On average, sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Friday, February 14th. Reynolds Consumer Products's payout ratio is currently 54.76%.

Insider Buying and Selling

In other news, Director Rolf Stangl acquired 6,000 shares of Reynolds Consumer Products stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the acquisition, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. The trade was a 55.10 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.