Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 47.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 103,494 shares of the company's stock after acquiring an additional 33,239 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Reynolds Consumer Products were worth $2,793,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Reynolds Consumer Products by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,072,422 shares of the company's stock valued at $28,953,000 after purchasing an additional 26,664 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Reynolds Consumer Products in the fourth quarter valued at $1,615,000. Pictet Asset Management Holding SA boosted its stake in Reynolds Consumer Products by 21.9% during the 4th 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 during the last quarter. New Age Alpha Advisors LLC acquired a new position in Reynolds Consumer Products during the 4th quarter worth $165,000. Finally, Norges Bank bought a new stake in shares of Reynolds Consumer Products in the 4th quarter worth about $17,964,000. Institutional investors and hedge funds own 26.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on REYN shares. JPMorgan Chase & Co. decreased their price target on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday. 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 research 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. UBS Group reduced their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Finally, Stifel Nicolaus lowered their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $29.38.

Reynolds Consumer Products Stock Performance

Shares of REYN stock traded up $0.62 during trading hours on Friday, reaching $23.90. The stock had a trading volume of 777,464 shares, compared to its average volume of 601,052. The firm has a market capitalization of $5.03 billion, a PE ratio of 14.23 and a beta of 0.64. The firm has a 50-day simple moving average of $23.99 and a 200-day simple moving average of $26.66. Reynolds Consumer Products Inc. has a twelve month low of $21.90 and a twelve month high of $32.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. As a group, equities analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current 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 of this dividend was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.85%. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 54.76%.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl purchased 6,000 shares of Reynolds Consumer Products stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $24.89 per share, with a total value of $149,340.00. Following the purchase, the director now owns 16,889 shares in the company, valued at approximately $420,367.21. The trade was a 55.10 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.15% of the company's stock.

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.