Guggenheim Capital LLC Acquires New Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Guggenheim Capital LLC acquired a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,854 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors also recently added to or reduced their stakes in REYN. Norges Bank bought a new stake in Reynolds Consumer Products during the fourth quarter valued at about $17,964,000. Allspring Global Investments Holdings LLC boosted its holdings in Reynolds Consumer Products by 1.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after acquiring an additional 182,353 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 worth $32,707,000 after acquiring an additional 139,576 shares in the last quarter. ExodusPoint Capital Management LP boosted its holdings in Reynolds Consumer Products by 143.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 203,290 shares of the company’s stock worth $5,487,000 after acquiring an additional 119,911 shares in the last quarter. Finally, KBC Group NV acquired a new stake in Reynolds Consumer Products in the fourth quarter worth about $2,903,000. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Up 0.6 %

Shares of REYN stock opened at $23.36 on Tuesday. The stock has a 50 day moving average of $23.77 and a 200 day moving average of $26.13. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The stock has a market cap of $4.91 billion, a P/E ratio of 13.90 and a beta of 0.64. Reynolds Consumer Products Inc. has a twelve month low of $21.90 and a twelve month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. As a group, sell-side analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Friday, May 16th. Reynolds Consumer Products’s dividend payout ratio is presently 54.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a report on Monday. Evercore ISI lowered their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Truist Financial decreased their target price on Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, April 24th. UBS Group decreased their target price on Reynolds Consumer Products from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Barclays decreased their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of “Hold” and an average target price of $28.56.

Insider Buying and Selling at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 6,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were acquired at an average cost of $24.89 per share, with a total value of $149,340.00. Following the completion of the acquisition, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.