Edgestream Partners L.P. Takes $907,000 Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Edgestream Partners L.P. purchased a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 33,595 shares of the company’s stock, valued at approximately $907,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in Reynolds Consumer Products in the third quarter worth approximately $29,000. Blue Trust Inc. lifted its stake in shares of 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 purchasing an additional 698 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in Reynolds Consumer Products in the fourth quarter worth $40,000. Venturi Wealth Management LLC increased its position in Reynolds Consumer Products by 93.7% during the third quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock worth $80,000 after buying an additional 1,239 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Reynolds Consumer Products during the third quarter worth $90,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

Insider Buying and Selling

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 3,682 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average cost of $27.50 per share, with a total value of $101,255.00. Following the completion of the acquisition, the director now directly owns 10,889 shares of the company’s stock, valued at $299,447.50. This represents a 51.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Reynolds Consumer Products Price Performance

Shares of Reynolds Consumer Products stock opened at $24.27 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. The firm has a fifty day moving average price of $25.76 and a two-hundred day moving average price of $28.01. Reynolds Consumer Products Inc. has a fifty-two week low of $23.35 and a fifty-two week high of $32.65. The company has a market cap of $5.10 billion, a PE ratio of 14.45 and a beta of 0.56.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. Analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio (DPR) is 54.76%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on REYN. Evercore ISI decreased their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Canaccord Genuity Group decreased their target price on 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. UBS Group lowered their price target on 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 reduced 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 note on Thursday, February 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 target price on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.38.

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.