Bridgewater Associates LP Has $1.12 Million Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Bridgewater Associates LP lowered its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 52.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,155 shares of the company's stock after selling 40,263 shares during the quarter. Bridgewater Associates LP's holdings in Reynolds Consumer Products were worth $1,124,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Reynolds Consumer Products by 1.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,925,469 shares of the company's stock worth $401,982,000 after acquiring an additional 137,083 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Reynolds Consumer Products by 48.6% during 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 during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Reynolds Consumer Products by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company's stock valued at $49,859,000 after buying an additional 261,513 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Reynolds Consumer Products by 122.7% in the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company's stock valued at $43,588,000 after buying an additional 858,419 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Reynolds Consumer Products by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company's stock worth $28,166,000 after buying an additional 66,826 shares in the last quarter. 26.81% of the stock is owned by institutional investors.

Reynolds Consumer Products Price Performance

Shares of Reynolds Consumer Products stock traded up $0.16 during mid-day trading on Monday, reaching $27.85. 541,580 shares of the stock were exchanged, compared to its average volume of 575,145. Reynolds Consumer Products Inc. has a fifty-two week low of $26.16 and a fifty-two week high of $32.65. The firm has a 50-day simple moving average of $28.97 and a 200 day simple moving average of $29.06. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 15.91 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results 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 period in the prior year, the firm earned $0.37 earnings per share. The business's quarterly revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.30%. Reynolds Consumer Products's payout ratio is 52.57%.

Insider Activity

In other Reynolds Consumer Products news, Director Rolf Stangl bought 7,207 shares of Reynolds Consumer Products stock in a transaction dated Friday, November 1st. The shares were bought at an average price of $27.25 per share, with a total value of $196,390.75. Following the purchase, the director now owns 7,207 shares of the company's stock, 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 SEC, which is available at this link. Also, Director Helen Golding purchased 1,190 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the purchase, the director now owns 1,190 shares of the company's stock, valued at $32,820.20. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.