Olstein Capital Management L.P. Has $7.27 Million Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Olstein Capital Management L.P. grew its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 28.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 304,850 shares of the company's stock after acquiring an additional 67,850 shares during the quarter. Olstein Capital Management L.P. owned 0.14% of Reynolds Consumer Products worth $7,274,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Barclays PLC increased its position in shares of Reynolds Consumer Products by 173.9% in the third quarter. Barclays PLC now owns 63,121 shares of the company's stock valued at $1,963,000 after acquiring an additional 40,075 shares during the last quarter. Blue Trust Inc. grew its stake 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 valued at $35,000 after buying an additional 698 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in Reynolds Consumer Products by 5.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company's stock worth $443,000 after buying an additional 814 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Reynolds Consumer Products by 1.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company's stock worth $351,564,000 after acquiring an additional 182,353 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Reynolds Consumer Products by 36.0% in the fourth quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock valued at $94,000 after acquiring an additional 921 shares during the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Canaccord Genuity Group reduced their price target on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a report on Monday, April 28th. JPMorgan Chase & Co. cut their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Stifel Nicolaus reduced their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, Wall Street Zen upgraded Reynolds Consumer Products from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of "Hold" and an average price target of $28.33.

Reynolds Consumer Products Price Performance

NASDAQ REYN traded down $0.03 during midday trading on Thursday, hitting $21.72. The company had a trading volume of 958,245 shares, compared to its average volume of 664,105. The firm has a 50-day moving average price of $22.86 and a 200-day moving average price of $24.85. The company has a market capitalization of $4.57 billion, a PE ratio of 12.93 and a beta of 0.58. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. Reynolds Consumer Products Inc. has a twelve month low of $21.45 and a twelve month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 9.56% and a return on equity of 17.14%. The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. As a group, analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Friday, May 16th. Reynolds Consumer Products's dividend payout ratio is presently 57.50%.

Insider Activity

In other news, CAO Chris Mayrhofer acquired 5,048 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average price of $21.99 per share, for a total transaction of $111,005.52. Following the transaction, the chief accounting officer now directly owns 23,266 shares of the company's stock, valued at approximately $511,619.34. The trade was a 27.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rolf Stangl acquired 2,500 shares of the stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average cost of $23.22 per share, with a total value of $58,050.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 30,266 shares of company stock worth $670,052. Insiders own 0.15% of the company's stock.

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.