Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 188.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 280,137 shares of the company's stock after purchasing an additional 183,125 shares during the quarter. American Century Companies Inc. owned 0.13% of Reynolds Consumer Products worth $7,838,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in shares of Reynolds Consumer Products by 62.5% in the second quarter. Acadian Asset Management LLC now owns 345,696 shares of the company's stock worth $9,662,000 after acquiring an additional 133,002 shares during the period. Gallacher Capital Management LLC bought a new position in shares of Reynolds Consumer Products in the second quarter valued at $409,000. Los Angeles Capital Management LLC acquired a new position in Reynolds Consumer Products during the 2nd quarter valued at about $285,000. Savant Capital LLC boosted its position in shares of Reynolds Consumer Products by 135.1% during the second quarter. Savant Capital LLC now owns 27,429 shares of the company's stock valued at $767,000 after buying an additional 15,764 shares during the last quarter. Finally, Impact Partnership Wealth LLC bought a new position in Reynolds Consumer Products during the 2nd quarter valued at $227,000. 26.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on REYN shares. Jefferies Financial Group initiated coverage on 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. Canaccord Genuity Group raised their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a "hold" rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. Royal Bank of Canada raised their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a "sector perform" rating in a research report on Thursday, August 8th. Finally, Barclays raised their price objective on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $32.00.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ REYN traded down $0.09 during trading on Tuesday, hitting $30.99. The company had a trading volume of 970,168 shares, compared to its average volume of 567,491. The firm has a market capitalization of $6.51 billion, a P/E ratio of 19.74 and a beta of 0.48. Reynolds Consumer Products Inc. has a 12 month low of $24.80 and a 12 month high of $32.65. The stock has a 50 day simple moving average of $30.01 and a 200 day simple moving average of $28.93. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. The firm had revenue of $930.00 million for the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The company's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current 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 issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.97%. The ex-dividend date was Friday, August 16th. Reynolds Consumer Products's payout ratio is 58.60%.

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.