Vanguard Group Inc. Grows Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Vanguard Group Inc. grew its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,843,058 shares of the company's stock after acquiring an additional 17,756 shares during the period. Vanguard Group Inc. owned about 2.78% of Reynolds Consumer Products worth $157,704,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in shares of Reynolds Consumer Products in the 3rd quarter worth about $4,397,000. Quantinno Capital Management LP lifted its holdings in shares of Reynolds Consumer Products by 163.8% in the third quarter. Quantinno Capital Management LP now owns 117,015 shares of the company's stock valued at $3,639,000 after purchasing an additional 72,652 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Reynolds Consumer Products by 103.1% in the third quarter. Stifel Financial Corp now owns 93,229 shares of the company's stock valued at $2,899,000 after purchasing an additional 47,337 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of Reynolds Consumer Products during the 3rd quarter worth approximately $777,000. Finally, Jane Street Group LLC increased its stake in shares of Reynolds Consumer Products by 758.9% during the 3rd quarter. Jane Street Group LLC now owns 167,722 shares of the company's stock worth $5,216,000 after purchasing an additional 148,194 shares in the last quarter. Hedge funds and other institutional investors own 26.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on REYN. JPMorgan Chase & Co. lowered their target price on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday. Canaccord Genuity Group dropped their price objective on Reynolds Consumer Products from $31.00 to $30.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. Barclays cut their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus decreased their price target on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $32.00 price objective on shares of Reynolds Consumer Products in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Reynolds Consumer Products currently has an average rating of "Hold" and an average price target of $29.38.

Insider Activity

In related news, Director Rolf Stangl bought 6,000 shares of the stock in a transaction dated Monday, February 10th. The stock was acquired at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the purchase, the director now owns 16,889 shares in the company, valued at $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

Reynolds Consumer Products Trading Up 2.7 %

NASDAQ:REYN traded up $0.62 during trading hours on Friday, reaching $23.90. 777,464 shares of the company were exchanged, compared to its average volume of 601,052. Reynolds Consumer Products Inc. has a 52-week low of $21.90 and a 52-week high of $32.65. The stock has a 50 day simple moving average of $23.99 and a 200 day simple moving average of $26.66. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 14.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, meeting analysts' consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. As a group, analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Friday, February 14th. Reynolds Consumer Products's payout ratio is currently 54.76%.

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.