Bank of America Corp DE Buys New Shares in Reynolds Consumer Products Inc. $REYN

Key Points

• Bank of America acquired 674,251 shares of Reynolds Consumer Products in the second quarter, worth approximately $18.1 million and representing about 0.32% of the company. Institutional investors collectively own 26.81% of REYN.
• Analysts maintain a generally cautious outlook, with one Buy rating and seven Holds; the consensus rating is Hold with an average price target of $25.60.
• Reynolds beat quarterly earnings and revenue estimates, reporting $0.42 EPS on $944 million in revenue, while maintaining a quarterly dividend of $0.23 per share—an annualized yield of approximately 4.3%.

Bank of America Corp DE acquired a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 674,251 shares of the company's stock, valued at approximately $18,104,000. Bank of America Corp DE owned about 0.32% of Reynolds Consumer Products as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Freestone Grove Partners LP purchased a new position in shares of Reynolds Consumer Products during the 2nd quarter worth $973,000. Odyssean LLC acquired a new position in Reynolds Consumer Products in the second quarter valued at about $361,000. Jupiter Topco LLC acquired a new position in Reynolds Consumer Products in the second quarter valued at about $738,000. Legal & General Group Plc purchased a new position in Reynolds Consumer Products during the second quarter worth about $3,253,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Reynolds Consumer Products during the second quarter worth about $6,184,000. Hedge funds and other institutional investors own 26.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group upped their price target on Reynolds Consumer Products from $23.00 to $27.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Canaccord Genuity Group lifted their price objective on Reynolds Consumer Products from $24.00 to $25.00 and gave the company a "hold" rating in a research note on Thursday, July 30th. Barclays boosted their price objective on Reynolds Consumer Products from $24.00 to $25.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Weiss Ratings raised Reynolds Consumer Products from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 29th. Finally, Piper Sandler upgraded Reynolds Consumer Products to an "overweight" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $25.60.

Reynolds Consumer Products Stock Down 1.6%

REYN stock opened at $21.59 on Friday. The company's 50 day moving average price is $24.30 and its 200 day moving average price is $23.24. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 13.16 and a beta of 0.54. Reynolds Consumer Products Inc. has a fifty-two week low of $20.44 and a fifty-two week high of $27.32. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.71 and a current ratio of 1.80.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The company had revenue of $944.00 million for the quarter, compared to analysts' expectations of $935.46 million. Reynolds Consumer Products had a return on equity of 16.03% and a net margin of 9.11%.Reynolds Consumer Products's quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. Reynolds Consumer Products has set its Q3 2026 guidance at 0.370-0.390 EPS and its FY 2026 guidance at 1.570-1.630 EPS. On average, equities research analysts anticipate that Reynolds Consumer Products Inc. will post 1.59 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a dividend of $0.23 per share. The ex-dividend date was Monday, August 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.3%. Reynolds Consumer Products's dividend payout ratio (DPR) is 56.10%.

Reynolds Consumer Products Company Profile

Reynolds Consumer Products Inc NASDAQ: REYN develops, manufactures and markets household products used for food preparation, storage, serving and waste management. The company sells branded and private-label products primarily through grocery stores, mass merchants, warehouse clubs, online retailers and other distribution channels.

Its portfolio includes Reynolds Kitchens aluminum foil, parchment paper, oven bags, wax paper, plastic wrap and disposable bakeware; Hefty trash bags, food-storage bags and disposable tableware; and Diamond kitchen and food-preparation products.

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