Centiva Capital LP Acquires Shares of 18,498 Reynolds Consumer Products Inc. (NASDAQ:REYN)

Centiva Capital LP bought a new position in Reynolds Consumer Products Inc. (NASDAQ:REYN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,498 shares of the company’s stock, valued at approximately $499,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Reynolds Consumer Products during the fourth quarter worth about $1,605,000. Ameriprise Financial Inc. raised its holdings in Reynolds Consumer Products by 214.8% in the 4th quarter. Ameriprise Financial Inc. now owns 20,870 shares of the company’s stock valued at $563,000 after acquiring an additional 14,241 shares during the last quarter. Ariel Investments LLC lifted its position in Reynolds Consumer Products by 6.1% during the fourth quarter. Ariel Investments LLC now owns 7,446 shares of the company’s stock worth $201,000 after buying an additional 426 shares during the period. Northern Trust Corp lifted its holdings in shares of Reynolds Consumer Products by 49.1% during the 4th quarter. Northern Trust Corp now owns 350,398 shares of the company’s stock worth $9,457,000 after acquiring an additional 115,399 shares during the period. Finally, Quarry LP raised its stake in Reynolds Consumer Products by 187.0% during the fourth quarter. Quarry LP now owns 2,531 shares of the company’s stock worth $68,000 after purchasing an additional 1,649 shares during the period. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Price Performance

REYN stock opened at $23.10 on Friday. The stock’s 50 day moving average is $23.52 and its two-hundred day moving average is $25.71. Reynolds Consumer Products Inc. has a 52-week low of $21.90 and a 52-week high of $32.65. The company has a market capitalization of $4.86 billion, a PE ratio of 13.75 and a beta of 0.61. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The business had revenue of $801.00 million during the quarter, compared to analyst estimates of $821.99 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. Analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, May 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.98%. Reynolds Consumer Products’s payout ratio is 57.50%.

Insider Buying and Selling

In other Reynolds Consumer Products news, Director Rolf Stangl acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $23.22 per share, with a total value of $58,050.00. Following the completion of the acquisition, the director now directly owns 19,389 shares in the company, valued at $450,212.58. This trade represents a 14.80 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Evercore ISI reduced their price objective on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Truist Financial reduced their price objective on Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Barclays lowered their target price on 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. UBS Group reduced their price target on Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Finally, Stifel Nicolaus lowered their price objective on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Reynolds Consumer Products has an average rating of “Hold” and a consensus price target of $28.33.

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.