Envestnet Portfolio Solutions Inc. Has $363,000 Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Envestnet Portfolio Solutions Inc. raised its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,432 shares of the company’s stock after acquiring an additional 566 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Reynolds Consumer Products were worth $363,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its position in shares of Reynolds Consumer Products by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after purchasing an additional 182,353 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Reynolds Consumer Products by 13.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock worth $32,707,000 after buying an additional 139,576 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Reynolds Consumer Products by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company’s stock valued at $15,976,000 after acquiring an additional 19,044 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Reynolds Consumer Products in the 3rd quarter valued at approximately $12,844,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Reynolds Consumer Products by 19.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 334,535 shares of the company’s stock worth $9,029,000 after acquiring an additional 54,203 shares during the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on REYN. JPMorgan Chase & Co. lowered their target price on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada reaffirmed 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 decreased their target price on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Barclays dropped their price target on 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, UBS Group decreased their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.38.

Reynolds Consumer Products Stock Up 0.6 %

NASDAQ:REYN opened at $23.39 on Thursday. The stock has a 50-day simple moving average of $25.11 and a 200 day simple moving average of $27.42. Reynolds Consumer Products Inc. has a 52-week low of $23.13 and a 52-week high of $32.65. The company 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 (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. On average, sell-side analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given 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 3.93%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 54.76%.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 6,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $24.89 per share, with a total value of $149,340.00. Following the acquisition, the director now owns 16,889 shares in the company, valued at $420,367.21. This represents a 55.10 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% 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.