Vanguard Group Inc. Acquires 25,597 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Vanguard Group Inc. grew its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,633,309 shares of the company’s stock after acquiring an additional 25,597 shares during the quarter. Vanguard Group Inc.’s holdings in Reynolds Consumer Products were worth $151,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC raised its stake in Reynolds Consumer Products by 97.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock valued at $52,000 after purchasing an additional 960 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Reynolds Consumer Products during the 4th quarter worth about $61,000. Parallel Advisors LLC raised its position in shares of Reynolds Consumer Products by 26.9% during the fourth quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after buying an additional 485 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Reynolds Consumer Products by 467.9% in the fourth quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock valued at $66,000 after buying an additional 2,012 shares during the period. Finally, Signaturefd LLC grew its position in Reynolds Consumer Products by 120.8% during the fourth quarter. Signaturefd LLC now owns 4,106 shares of the company’s stock worth $110,000 after buying an additional 2,246 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price objective on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Stifel Nicolaus reiterated a “hold” rating and set a $30.00 price target on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Barclays increased their price objective 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 Friday, May 10th. Finally, Canaccord Genuity Group lifted their target price on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, May 9th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.00.

Reynolds Consumer Products Trading Down 0.4 %

Shares of Reynolds Consumer Products stock opened at $27.45 on Friday. Reynolds Consumer Products Inc. has a 12-month low of $24.80 and a 12-month high of $30.54. The stock has a market capitalization of $5.77 billion, a P/E ratio of 17.48 and a beta of 0.47. The company has a 50-day simple moving average of $28.45 and a 200 day simple moving average of $28.20. The company has a quick ratio of 1.01, a current ratio of 2.11 and a debt-to-equity ratio of 0.92.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $814.92 million. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. Reynolds Consumer Products’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. Research analysts expect that Reynolds Consumer Products Inc. will post 1.67 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, May 31st. Stockholders of record on Friday, May 17th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Thursday, May 16th. Reynolds Consumer Products’s payout ratio is presently 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.