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

Allspring Global Investments Holdings LLC reduced its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 1.8% in the 1st quarter, according to its most recent disclosure 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 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP raised its position in shares of Reynolds Consumer Products by 187.0% in the 4th quarter. Quarry LP now owns 2,531 shares of the company's stock worth $68,000 after buying an additional 1,649 shares during the period. Versant Capital Management Inc raised its holdings in shares of Reynolds Consumer Products by 38.1% in the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock worth $61,000 after purchasing an additional 701 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Reynolds Consumer Products by 667.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock valued at $70,000 after purchasing an additional 2,248 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Reynolds Consumer Products during the 4th quarter worth about $165,000. Finally, Deutsche Bank AG grew its holdings in shares of Reynolds Consumer Products by 35.8% during the 4th quarter. Deutsche Bank AG now owns 7,247 shares of the company's stock worth $196,000 after purchasing an additional 1,910 shares during the period. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Rolf Stangl bought 4,500 shares of Reynolds Consumer Products stock in a transaction on Friday, June 20th. The shares were bought at an average price of $21.24 per share, with a total value of $95,580.00. Following the acquisition, the director directly owned 30,889 shares in the company, valued at approximately $656,082.36. This represents a 17.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Chris Mayrhofer bought 18,218 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was purchased at an average price of $22.14 per share, with a total value of $403,346.52. Following the transaction, the chief accounting officer owned 18,218 shares in the company, valued at $403,346.52. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 34,766 shares of company stock worth $765,632 over the last quarter. 0.15% of the stock is currently owned by insiders.

Reynolds Consumer Products Stock Up 1.7%

NASDAQ:REYN traded up $0.36 on Tuesday, reaching $21.78. The stock had a trading volume of 1,765,678 shares, compared to its average volume of 905,740. The company has a 50-day moving average of $22.34 and a 200 day moving average of $24.21. The company has a current ratio of 1.80, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The stock has a market cap of $4.58 billion, a P/E ratio of 13.61 and a beta of 0.58. Reynolds Consumer Products Inc. has a 12-month low of $20.91 and a 12-month high of $32.65.

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

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.23 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.92 annualized dividend and a yield of 4.22%. Reynolds Consumer Products's dividend payout ratio is presently 57.50%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on REYN shares. Canaccord Genuity Group reduced 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 report on Thursday, May 1st. Truist Financial decreased their price target on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. UBS Group lowered their price target on Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Wall Street Zen upgraded Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $28.33.

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.