24,135 Shares in Reynolds Consumer Products Inc. (NASDAQ:REYN) Acquired by ARGA Investment Management LP

ARGA Investment Management LP acquired a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 24,135 shares of the company's stock, valued at approximately $751,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in shares of Reynolds Consumer Products by 48.6% in the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company's stock valued at $108,845,000 after buying an additional 1,272,353 shares in the last quarter. AQR Capital Management LLC raised its holdings in Reynolds Consumer Products by 122.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company's stock valued at $43,588,000 after acquiring an additional 858,419 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Reynolds Consumer Products during the 3rd quarter valued at $12,844,000. Dimensional Fund Advisors LP grew its holdings in shares of Reynolds Consumer Products by 17.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company's stock worth $49,859,000 after purchasing an additional 261,513 shares in the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. bought a new position in shares of Reynolds Consumer Products in the third quarter worth $5,731,000. Institutional investors and hedge funds own 26.81% of the company's stock.

Insider Activity at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 7,207 shares of the stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the acquisition, the director now owns 7,207 shares in the company, valued at $196,390.75. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Helen Golding acquired 1,190 shares of Reynolds Consumer Products stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the purchase, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by company insiders.

Reynolds Consumer Products Trading Up 0.2 %

Reynolds Consumer Products stock traded up $0.05 during trading hours on Friday, hitting $27.69. The stock had a trading volume of 293,986 shares, compared to its average volume of 639,309. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 15.82 and a beta of 0.50. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. The business's 50 day simple moving average is $28.97 and its 200-day simple moving average is $29.06. Reynolds Consumer Products Inc. has a one year low of $26.07 and a one year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The business had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. During the same quarter last year, the business earned $0.37 EPS. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.32%. Reynolds Consumer Products's dividend payout ratio is 52.57%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They set a "buy" rating and a $38.00 price target on the stock. Royal Bank of Canada raised their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a "sector perform" rating in a report on Thursday, August 8th. Canaccord Genuity Group boosted their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a "hold" rating in a report on Thursday, August 8th. Barclays reduced their price objective on Reynolds Consumer Products from $29.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Reynolds Consumer Products currently has a consensus rating of "Hold" and a consensus price target of $32.17.

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.