ExodusPoint Capital Management LP Buys 119,911 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

ExodusPoint Capital Management LP grew its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 143.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 203,290 shares of the company’s stock after acquiring an additional 119,911 shares during the period. ExodusPoint Capital Management LP owned about 0.10% of Reynolds Consumer Products worth $5,487,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of REYN. Massachusetts Financial Services Co. MA increased its holdings in Reynolds Consumer Products by 47.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 103,494 shares of the company’s stock worth $2,793,000 after purchasing an additional 33,239 shares during the period. Geode Capital Management LLC grew its position in shares of Reynolds Consumer Products by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,072,422 shares of the company’s stock worth $28,953,000 after buying an additional 26,664 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new position in shares of Reynolds Consumer Products during the fourth quarter valued at $1,615,000. Pictet Asset Management Holding SA raised its holdings in shares of Reynolds Consumer Products by 21.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 9,142 shares of the company’s stock valued at $247,000 after acquiring an additional 1,643 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Reynolds Consumer Products in the fourth quarter worth about $165,000. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on REYN shares. UBS Group cut their target price 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. Evercore ISI reduced their price objective on shares of 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. Canaccord Genuity Group lowered their target price on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on 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. Six equities 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, Reynolds Consumer Products currently has an average rating of “Hold” and an average target price of $30.38.

Insiders Place Their Bets

In other news, Director Rolf Stangl acquired 6,000 shares of the business’s stock in a transaction dated 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 owns 16,889 shares of the company’s stock, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

Reynolds Consumer Products Stock Down 0.9 %

Reynolds Consumer Products stock opened at $23.93 on Friday. Reynolds Consumer Products Inc. has a 1-year low of $23.13 and a 1-year high of $32.65. The business has a fifty day moving average price of $24.64 and a 200-day moving average price of $27.03. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 14.24 and a beta of 0.64.

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 return on equity of 17.14% and a net margin of 9.56%. Equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.84%. Reynolds Consumer Products’s payout ratio is 54.76%.

About Reynolds Consumer Products

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.