Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 22.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 304,705 shares of the company's stock after purchasing an additional 55,405 shares during the quarter. Renaissance Technologies LLC owned about 0.15% of Reynolds Consumer Products worth $8,526,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in REYN. Charles Schwab Investment Management Inc. grew its stake in Reynolds Consumer Products by 10.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 536,320 shares of the company's stock worth $14,395,000 after purchasing an additional 50,425 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Reynolds Consumer Products by 23.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company's stock worth $31,069,000 after buying an additional 218,864 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in Reynolds Consumer Products in the fourth quarter valued at approximately $282,000. Quadrant Capital Group LLC lifted its stake in Reynolds Consumer Products by 97.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company's stock worth $52,000 after acquiring an additional 960 shares during the last quarter. Finally, Norges Bank acquired a new position in Reynolds Consumer Products during the 4th quarter worth approximately $6,924,000. Hedge funds and other institutional investors own 26.81% of the company's stock.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ REYN traded down $0.27 during midday trading on Wednesday, reaching $30.72. 1,358,143 shares of the company were exchanged, compared to its average volume of 572,264. The stock has a market cap of $6.46 billion, a P/E ratio of 19.67 and a beta of 0.48. Reynolds Consumer Products Inc. has a 1 year low of $24.80 and a 1 year high of $32.65. The stock has a fifty day simple moving average of $30.09 and a 200 day simple moving average of $28.94. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, beating 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 company had revenue of $930.00 million for the quarter, compared to the consensus estimate of $890.71 million. During the same period last year, the business posted $0.32 EPS. The company's revenue was down 1.1% on a year-over-year basis. On average, research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.99%. Reynolds Consumer Products's dividend payout ratio (DPR) is 58.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on REYN. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a "buy" rating and a $38.00 price objective on the stock. Canaccord Genuity Group boosted 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. increased their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. Royal Bank of Canada increased their target price 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 stock an "equal weight" rating in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $32.00.

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.