Sei Investments Co. Acquires 92,473 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Sei Investments Co. raised its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 766,463 shares of the company’s stock after purchasing an additional 92,473 shares during the period. Sei Investments Co. owned approximately 0.36% of Reynolds Consumer Products worth $20,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in REYN. Verition Fund Management LLC bought a new stake in shares of Reynolds Consumer Products in the third quarter valued at approximately $12,844,000. Allspring Global Investments Holdings LLC lifted its position in shares of Reynolds Consumer Products by 1.4% during 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 acquiring an additional 182,353 shares during the period. Jane Street Group LLC grew its holdings in shares of Reynolds Consumer Products by 758.9% during the 3rd quarter. Jane Street Group LLC now owns 167,722 shares of the company’s stock worth $5,216,000 after purchasing an additional 148,194 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Reynolds Consumer Products in the third quarter worth $4,397,000. Finally, Bank of New York Mellon Corp raised its stake in Reynolds Consumer Products by 13.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock valued at $32,707,000 after purchasing an additional 139,576 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated 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. Stifel Nicolaus reduced their price target on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Canaccord Genuity Group decreased their price objective on shares of 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. Evercore ISI cut their target price 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. Finally, UBS Group decreased their price target on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.38.

Reynolds Consumer Products Stock Performance

NASDAQ REYN opened at $23.39 on Thursday. The firm’s fifty day moving average price is $25.11 and its two-hundred day moving average price is $27.42. The stock has a market cap of $4.92 billion, a PE ratio of 13.92 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. Reynolds Consumer Products Inc. has a fifty-two week low of $23.13 and a fifty-two week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (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%. On average, equities analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors 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 yield of 3.93%. Reynolds Consumer Products’s dividend payout ratio is presently 54.76%.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 6,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% of the company’s stock.

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.