Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,925,469 shares of the company's stock after buying an additional 137,083 shares during the quarter. Reynolds Consumer Products makes up approximately 0.6% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 21st biggest position. Allspring Global Investments Holdings LLC owned approximately 6.15% of Reynolds Consumer Products worth $401,982,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Reynolds Consumer Products by 0.5% during the 1st 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. increased its holdings in shares of 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 purchasing an additional 1,272,353 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Reynolds Consumer Products by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company's stock valued at $49,859,000 after purchasing an additional 261,513 shares during the period. AQR Capital Management LLC raised its stake in shares of Reynolds Consumer Products by 122.7% during the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company's stock worth $43,588,000 after purchasing an additional 858,419 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Reynolds Consumer Products by 7.1% during 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 purchasing an additional 66,826 shares during the period. 26.81% of the stock is owned by institutional investors and hedge funds.

Reynolds Consumer Products Price Performance

REYN stock traded down $0.24 during trading on Friday, reaching $30.22. 334,405 shares of the company were exchanged, compared to its average volume of 568,211. Reynolds Consumer Products Inc. has a 52-week low of $24.85 and a 52-week 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 $6.35 billion, a P/E ratio of 17.67 and a beta of 0.48. The stock's 50 day moving average price is $30.88 and its 200 day moving average price is $29.16.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.02. The business had revenue of $930.00 million for the quarter, compared to analysts' expectations of $890.71 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The company's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. As a group, analysts predict that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced 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. This represents a $0.92 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, August 16th. Reynolds Consumer Products's payout ratio is currently 53.80%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on REYN. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a "buy" rating and a $38.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on shares of 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. Barclays boosted their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an "equal weight" rating in a research report 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 report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Reynolds Consumer Products has a consensus rating of "Hold" and an average price target of $32.33.

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.