Allspring Global Investments Holdings LLC Has $307.23 Million Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Allspring Global Investments Holdings LLC lessened its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,871,033 shares of the company's stock after selling 236,789 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 6.12% of Reynolds Consumer Products worth $307,232,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. boosted its stake in Reynolds Consumer Products by 4.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock worth $363,000 after acquiring an additional 566 shares during the last quarter. GAMMA Investing LLC boosted its stake in Reynolds Consumer Products by 1,493.1% during the 1st quarter. GAMMA Investing LLC now owns 20,233 shares of the company's stock worth $483,000 after acquiring an additional 18,963 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Reynolds Consumer Products by 214.8% during the 4th quarter. Ameriprise Financial Inc. now owns 20,870 shares of the company's stock worth $563,000 after acquiring an additional 14,241 shares during the last quarter. Hunter Perkins Capital Management LLC bought a new position in Reynolds Consumer Products during the 1st quarter worth approximately $649,000. Finally, Stifel Financial Corp boosted its stake in Reynolds Consumer Products by 65.0% during the 4th quarter. Stifel Financial Corp now owns 153,845 shares of the company's stock worth $4,152,000 after acquiring an additional 60,616 shares during the last quarter. Institutional investors own 26.81% of the company's stock.

Reynolds Consumer Products Stock Up 0.1%

REYN traded up $0.03 during trading on Friday, reaching $21.30. 8,750,760 shares of the stock were exchanged, compared to its average volume of 735,941. The stock has a market cap of $4.48 billion, a P/E ratio of 13.31 and a beta of 0.58. Reynolds Consumer Products Inc. has a twelve month low of $20.91 and a twelve month high of $32.65. The stock's 50 day moving average price is $22.38 and its two-hundred day moving average price is $24.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 1.80.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $821.99 million. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.87%. The company's quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 earnings per share. Equities analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.32%. Reynolds Consumer Products's payout ratio is presently 57.50%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on REYN shares. UBS Group reduced their price objective on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus dropped their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. cut their price target on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Canaccord Genuity Group cut their price target on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Finally, Wall Street Zen raised shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Reynolds Consumer Products has a consensus rating of "Hold" and a consensus target price of $28.33.

Insider Activity

In other news, Director Rolf Stangl acquired 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average price of $23.22 per share, with a total value of $58,050.00. Following the completion of the transaction, the director now directly owns 19,389 shares of the company's stock, valued at $450,212.58. This trade represents a 14.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Chris Mayrhofer acquired 5,048 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were purchased at an average cost of $21.99 per share, with a total value of $111,005.52. Following the transaction, the chief accounting officer now directly owns 23,266 shares of the company's stock, valued at $511,619.34. This trade represents a 27.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 34,766 shares of company stock valued at $765,632. 0.15% of the stock is owned by company insiders.

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.