Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC lifted its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 122.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,557,835 shares of the company's stock after purchasing an additional 858,419 shares during the period. AQR Capital Management LLC owned 0.74% of Reynolds Consumer Products worth $43,588,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of REYN. Allspring Global Investments Holdings LLC raised its holdings in Reynolds Consumer Products by 1.5% in the first 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 in the last quarter. Vanguard Group Inc. lifted its position 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 acquiring an additional 29,838 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Reynolds Consumer Products by 48.6% in the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company's stock valued at $108,845,000 after acquiring an additional 1,272,353 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Reynolds Consumer Products by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company's stock worth $49,859,000 after acquiring an additional 261,513 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Reynolds Consumer Products by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company's stock valued at $28,166,000 after purchasing an additional 66,826 shares during the last quarter. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Reynolds Consumer Products Price Performance

NASDAQ REYN traded up $0.19 during trading hours on Friday, reaching $31.14. The company's stock had a trading volume of 529,213 shares, compared to its average volume of 866,382. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. Reynolds Consumer Products Inc. has a 1-year low of $24.80 and a 1-year high of $32.65. The company's 50-day moving average is $30.32 and its two-hundred day moving average is $28.99. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 19.83 and a beta of 0.48.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.02. The firm had revenue of $930.00 million for the quarter, compared to analyst estimates of $890.71 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The business's revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. On average, equities 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. Investors of record on Friday, August 16th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Friday, August 16th. Reynolds Consumer Products's payout ratio is 58.60%.

Wall Street Analysts Forecast Growth

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

Reynolds Consumer Products Company 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.