Bank of New York Mellon Corp Acquires 139,576 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Bank of New York Mellon Corp lifted its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,211,805 shares of the company's stock after acquiring an additional 139,576 shares during the quarter. Bank of New York Mellon Corp owned 0.58% of Reynolds Consumer Products worth $32,707,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. True Wealth Design LLC purchased a new stake in Reynolds Consumer Products during the 3rd quarter worth approximately $29,000. Blue Trust Inc. increased its position in shares of Reynolds Consumer Products by 115.2% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after acquiring an additional 698 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Reynolds Consumer Products in the fourth quarter valued at $40,000. Capital Performance Advisors LLP purchased a new position in Reynolds Consumer Products in the third quarter valued at $70,000. Finally, Venturi Wealth Management LLC boosted its holdings in Reynolds Consumer Products by 93.7% in the third quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company's stock valued at $80,000 after purchasing an additional 1,239 shares during the period. Hedge funds and other institutional investors own 26.81% of the company's stock.

Insider Buying and Selling at Reynolds Consumer Products

In other news, Director Rolf Stangl bought 6,000 shares of the firm'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 transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group reduced their target price on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating on the stock 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 for the company in a research report on Thursday, February 6th. Royal Bank of Canada reiterated a "sector perform" rating and set a $32.00 target price on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Canaccord Genuity Group cut 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. Finally, JPMorgan Chase & Co. lowered their price objective on Reynolds Consumer Products from $30.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $30.38.

Reynolds Consumer Products Trading Down 1.3 %

Shares of REYN traded down $0.33 during trading hours on Tuesday, hitting $24.27. The stock had a trading volume of 682,548 shares, compared to its average volume of 636,669. Reynolds Consumer Products Inc. has a 12-month low of $23.35 and a 12-month high of $32.65. The firm has a market cap of $5.10 billion, a P/E ratio of 14.45 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. The company's fifty day simple moving average is $25.81 and its 200 day simple moving average is $28.06.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its 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 net margin of 9.56% and a return on equity of 17.14%. Equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, February 14th. This represents a $0.92 annualized dividend and a yield of 3.79%. Reynolds Consumer Products's dividend payout ratio is presently 54.76%.

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.