Allspring Global Investments Holdings LLC Grows Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Allspring Global Investments Holdings LLC lifted its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 1.4% during the fourth quarter, Holdings Channel reports. The fund owned 13,107,822 shares of the company’s stock after buying an additional 182,353 shares during the quarter. Reynolds Consumer Products makes up 0.6% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 27th largest holding. Allspring Global Investments Holdings LLC owned approximately 0.06% of Reynolds Consumer Products worth $351,564,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Abich Financial Wealth Management LLC increased its holdings in shares of Reynolds Consumer Products by 21.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock valued at $73,000 after purchasing an additional 414 shares in the last quarter. Covestor Ltd grew its position in Reynolds Consumer Products by 14.8% during the third quarter. Covestor Ltd now owns 4,564 shares of the company’s stock valued at $142,000 after buying an additional 588 shares during the period. MML Investors Services LLC increased its holdings in Reynolds Consumer Products by 1.3% in the third quarter. MML Investors Services LLC now owns 48,700 shares of the company’s stock valued at $1,515,000 after buying an additional 641 shares in the last quarter. Blue Trust Inc. raised its position in shares of Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after acquiring an additional 698 shares during the period. Finally, Kestra Private Wealth Services LLC raised its position in shares of Reynolds Consumer Products by 5.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company’s stock worth $443,000 after acquiring an additional 814 shares during the period. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. UBS Group cut their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus reduced their target price on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Canaccord Genuity Group dropped their price target on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set 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 given a buy rating to the stock. Based on data from MarketBeat.com, Reynolds Consumer Products currently has an average rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Stock Up 0.3 %

Shares of REYN opened at $24.67 on Wednesday. The stock has a 50 day moving average price of $27.14 and a 200 day moving average price of $28.78. Reynolds Consumer Products Inc. has a one year low of $24.26 and a one year high of $32.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 2.04. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 14.68 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio (DPR) is 54.76%.

Insiders Place Their Bets

In other news, Director Rolf Stangl acquired 6,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the transaction, the director now owns 16,889 shares in the company, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Helen Golding bought 1,190 shares of Reynolds Consumer Products stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the purchase, the director now directly owns 1,190 shares of the company’s stock, valued at $32,820.20. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 10,872 shares of company stock valued at $283,415 in the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

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.