Dimensional Fund Advisors LP Acquires 261,513 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Dimensional Fund Advisors LP raised its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 17.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,781,815 shares of the company's stock after purchasing an additional 261,513 shares during the quarter. Dimensional Fund Advisors LP owned 0.85% of Reynolds Consumer Products worth $49,859,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Reynolds Consumer Products by 1.5% during 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 period. Vanguard Group Inc. increased its stake in Reynolds Consumer Products by 0.5% in 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 period. Bank of New York Mellon Corp increased its stake in 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 valued at $28,166,000 after acquiring an additional 66,826 shares during the period. TD Asset Management Inc increased its stake in Reynolds Consumer Products by 6.6% in the second quarter. TD Asset Management Inc now owns 624,200 shares of the company's stock valued at $17,465,000 after acquiring an additional 38,600 shares during the period. Finally, Eagle Ridge Investment Management increased its stake in Reynolds Consumer Products by 1.6% in the first quarter. Eagle Ridge Investment Management now owns 377,265 shares of the company's stock valued at $10,775,000 after acquiring an additional 5,819 shares during the period. Institutional investors own 26.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on REYN shares. Barclays upped their target price on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted 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 report on Thursday, August 8th. Royal Bank of Canada boosted their price target 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. Jefferies Financial Group began coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They set a "buy" rating and a $38.00 target price on the stock. Finally, Canaccord Genuity Group boosted their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a "hold" rating in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $32.00.

Reynolds Consumer Products Trading Down 0.1 %

NASDAQ:REYN traded down $0.04 during trading hours on Monday, hitting $31.10. The stock had a trading volume of 662,023 shares, compared to its average volume of 578,929. Reynolds Consumer Products Inc. has a one year low of $24.80 and a one year high of $32.65. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 19.81 and a beta of 0.48. The business's 50 day moving average is $30.32 and its 200-day moving average is $28.99.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued 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 net margin of 9.74% and a return on equity of 18.27%. The company had revenue of $930.00 million during the quarter, compared to the consensus estimate of $890.71 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The firm's revenue was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently declared 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 2.96%. The ex-dividend date of this dividend was Friday, August 16th. Reynolds Consumer Products's dividend payout ratio is currently 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.