28,556 Shares in Reynolds Consumer Products Inc. (NASDAQ:REYN) Acquired by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC acquired a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,556 shares of the company's stock, valued at approximately $799,000.

Several other institutional investors and hedge funds have also made changes to their positions in REYN. Norges Bank bought a new position in Reynolds Consumer Products during the 4th quarter valued at $6,924,000. Dimensional Fund Advisors LP raised its position in Reynolds Consumer Products by 23.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company's stock worth $31,069,000 after acquiring an additional 218,864 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Reynolds Consumer Products by 994.7% during the 1st quarter. Acadian Asset Management LLC now owns 212,694 shares of the company's stock valued at $6,068,000 after purchasing an additional 193,265 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Reynolds Consumer Products by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,081,988 shares of the company's stock worth $373,622,000 after purchasing an additional 190,431 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings 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 currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Canaccord Genuity Group upped their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a "hold" rating in a report on Thursday, August 8th. Royal Bank of Canada lifted their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 8th. Jefferies Financial Group began coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a "buy" rating and a $38.00 target price for the company. Barclays raised their price objective on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $32.00.

Reynolds Consumer Products Stock Up 2.2 %

Shares of NASDAQ:REYN traded up $0.70 during trading on Wednesday, reaching $32.18. 611,572 shares of the company traded hands, compared to its average volume of 530,258. The firm has a fifty day simple moving average of $28.83 and a 200 day simple moving average of $28.70. The company has a quick ratio of 1.01, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. Reynolds Consumer Products Inc. has a 1-year low of $24.80 and a 1-year high of $32.28. The firm has a market cap of $6.76 billion, a P/E ratio of 20.50 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The business had revenue of $930.00 million during the quarter, compared to analyst estimates of $890.71 million. During the same period last year, the company earned $0.32 earnings per share. Reynolds Consumer Products's quarterly revenue was down 1.1% compared to the same quarter last year. Analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Friday, August 16th. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 58.60%.

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.