AlphaQuest LLC Buys 32,888 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

AlphaQuest LLC grew its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 275.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,847 shares of the company’s stock after buying an additional 32,888 shares during the period. AlphaQuest LLC’s holdings in Reynolds Consumer Products were worth $1,210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC bought a new stake in shares of Reynolds Consumer Products during the third quarter valued at about $29,000. Blue Trust Inc. increased its position in shares of Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after purchasing an additional 698 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Reynolds Consumer Products in the fourth quarter worth approximately $40,000. Capital Performance Advisors LLP bought a new position in shares of Reynolds Consumer Products in the third quarter worth approximately $70,000. Finally, Venturi Wealth Management LLC increased its position in shares of Reynolds Consumer Products by 93.7% in the third quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock worth $80,000 after purchasing an additional 1,239 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors.

Reynolds Consumer Products Stock Up 2.4 %

Shares of REYN opened at $24.44 on Monday. The firm has a market cap of $5.14 billion, a P/E ratio of 14.55 and a beta of 0.56. The stock has a 50 day simple moving average of $25.86 and a two-hundred day simple moving average of $28.10. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. Reynolds Consumer Products Inc. has a 1 year low of $23.35 and a 1 year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share 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, analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date was Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 54.76%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on REYN shares. UBS Group decreased their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus decreased their price objective 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 report on Thursday, February 6th. 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, 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. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Reynolds Consumer Products has a consensus rating of “Hold” and a consensus price target of $30.38.

Insider Activity

In related news, Director Rolf Stangl acquired 6,000 shares of the company’s 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 completion of the purchase, the director now owns 16,889 shares in the company, valued at $420,367.21. This trade represents a 55.10 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

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.