Bank of New York Mellon Corp Buys New Position in Reynolds Consumer Products Inc. $REYN

Bank of New York Mellon Corp bought a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,039,366 shares of the company's stock, valued at approximately $27,907,000. Bank of New York Mellon Corp owned approximately 0.49% of Reynolds Consumer Products as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Handelsbanken Fonder AB purchased a new position in shares of Reynolds Consumer Products during the 2nd quarter valued at about $287,000. Hennion & Walsh Asset Management Inc. increased its holdings in Reynolds Consumer Products by 12.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 68,100 shares of the company's stock worth $1,828,000 after acquiring an additional 7,493 shares in the last quarter. 55 North Private Wealth LLC bought a new stake in shares of Reynolds Consumer Products during the 2nd quarter valued at $221,000. GAMMA Investing LLC lifted its stake in shares of Reynolds Consumer Products by 48.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,961 shares of the company's stock valued at $106,000 after buying an additional 1,298 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Reynolds Consumer Products by 29.8% during the 2nd quarter. Versant Capital Management Inc now owns 11,064 shares of the company's stock valued at $297,000 after buying an additional 2,542 shares in the last quarter. Institutional investors own 26.81% of the company's stock.

Wall Street Analysts Forecast Growth

REYN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective 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. UBS Group boosted their price target on Reynolds Consumer Products from $23.00 to $27.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Weiss Ratings upgraded Reynolds Consumer Products from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 29th. Barclays increased their price objective on shares of Reynolds Consumer Products from $24.00 to $25.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Finally, Piper Sandler upgraded shares of Reynolds Consumer Products to an "overweight" rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $25.60.

Reynolds Consumer Products Stock Down 0.6%

Shares of NASDAQ REYN opened at $24.05 on Friday. Reynolds Consumer Products Inc. has a 1 year low of $20.44 and a 1 year high of $27.32. The firm has a 50-day simple moving average of $25.88 and a two-hundred day simple moving average of $23.48. The company has a market cap of $5.07 billion, a P/E ratio of 14.66 and a beta of 0.55. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.80 and a quick ratio of 0.71.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $944.00 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. 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. Research analysts anticipate that Reynolds Consumer Products Inc. will post 1.59 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, August 17th. Reynolds Consumer Products's dividend payout ratio is presently 56.10%.

Reynolds Consumer Products Profile

Reynolds Consumer Products, Inc NASDAQ: REYN is a leading North American manufacturer and marketer of household consumer products. The company specializes in food storage and cooking solutions, including aluminum foil, plastic wrap, food storage containers and disposable tableware. Its core portfolio features well-known brands such as Reynolds Wrap aluminum foil, Hefty storage containers and trash bags, and Fastfold paper plates.

The company operates through a network of manufacturing and distribution facilities across North America, Latin America, Europe and the Asia Pacific region.

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