Sei Investments Co. Buys 95,469 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Sei Investments Co. raised its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 18.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 612,775 shares of the company's stock after purchasing an additional 95,469 shares during the period. Sei Investments Co. owned 0.29% of Reynolds Consumer Products worth $17,146,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Reynolds Consumer Products by 0.5% during the first quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company's stock valued at $161,739,000 after purchasing an additional 29,838 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Reynolds Consumer Products by 994.7% in the first quarter. Acadian Asset Management LLC now owns 212,694 shares of the company's stock worth $6,068,000 after acquiring an additional 193,265 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 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 during the period. SG Americas Securities LLC bought a new position in shares of Reynolds Consumer Products in the second quarter worth $695,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Reynolds Consumer Products by 7.1% in 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 acquiring an additional 66,826 shares during the period. 26.81% of the stock is owned by institutional investors.

Reynolds Consumer Products Trading Up 0.6 %

Shares of REYN traded up $0.19 during trading hours on Friday, hitting $31.14. The company had a trading volume of 460,547 shares, compared to its average volume of 578,103. The firm has a market cap of $6.54 billion, a P/E ratio of 19.85 and a beta of 0.48. The stock's 50 day moving average price is $30.23 and its 200 day moving average price is $28.97. 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 52-week low of $24.80 and a 52-week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the business earned $0.32 EPS. Reynolds Consumer Products's revenue was down 1.1% compared to the same quarter last year. On average, research analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 16th. This represents a $0.92 annualized dividend and a yield of 2.95%. Reynolds Consumer Products's payout ratio is 58.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on REYN shares. Jefferies Financial Group started coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They issued a "buy" rating and a $38.00 price target for the company. JPMorgan Chase & Co. raised their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, August 8th. Barclays raised their price target 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. Royal Bank of Canada lifted their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a "sector perform" rating in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group raised their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a "hold" rating in a research 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 company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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.