Victory Capital Management Inc. Has $4.38 Million Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Key Points

• Victory Capital Management Inc. significantly increased its stake in Reynolds Consumer Products Inc., purchasing 163,977 shares and lifting its position by 842.2%, bringing its total holdings to 183,448 shares valued at approximately $4.37 million.
• Insider transactions include CAO Chris Mayrhofer and Director Rolf Stangl buying shares, indicating confidence in the company's performance, with Mayrhofer increasing their position by 27.71% and Stangl by 17.05%.
• Wall Street analysts have mixed ratings on Reynolds Consumer Products, with seven analysts rating the stock as a "hold" and three as a "buy," while the consensus price target is set at $27.67.

Victory Capital Management Inc. raised its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 842.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,448 shares of the company's stock after purchasing an additional 163,977 shares during the quarter. Victory Capital Management Inc. owned about 0.09% of Reynolds Consumer Products worth $4,377,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Reynolds Consumer Products by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company's stock valued at $157,704,000 after acquiring an additional 17,756 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Reynolds Consumer Products by 13.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company's stock valued at $63,586,000 after purchasing an additional 275,601 shares during the period. Geode Capital Management LLC raised its stake in shares of Reynolds Consumer Products by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,072,422 shares of the company's stock valued at $28,953,000 after purchasing an additional 26,664 shares in the last quarter. Norges Bank acquired a new stake in Reynolds Consumer Products in the fourth quarter worth about $17,964,000. Finally, Millennium Management LLC grew its position in Reynolds Consumer Products by 30.7% in the 4th quarter. Millennium Management LLC now owns 532,261 shares of the company's stock valued at $14,366,000 after buying an additional 125,144 shares in the last quarter. Institutional investors own 26.81% of the company's stock.

Reynolds Consumer Products Trading Up 5.1%

NASDAQ REYN traded up $1.10 on Wednesday, hitting $22.66. 2,470,702 shares of the company were exchanged, compared to its average volume of 1,169,431. Reynolds Consumer Products Inc. has a twelve month low of $20.91 and a twelve month high of $32.65. The company's 50 day moving average price is $21.75 and its 200-day moving average price is $23.47. The firm has a market capitalization of $4.77 billion, a P/E ratio of 14.16 and a beta of 0.57. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.80 and a quick ratio of 0.72.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $938.00 million for the quarter, compared to analyst estimates of $899.05 million. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.87%. The firm's revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. Analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.06%. The ex-dividend date is Friday, August 15th. Reynolds Consumer Products's dividend payout ratio is currently 57.50%.

Insider Transactions at Reynolds Consumer Products

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

Wall Street Analyst Weigh In

REYN has been the subject of a number of research analyst reports. UBS Group reduced their price target on shares of Reynolds Consumer Products from $25.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Barclays decreased their price target on Reynolds Consumer Products from $22.00 to $21.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Royal Bank Of Canada restated a "sector perform" rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a report on Monday, April 28th. Canaccord Genuity Group decreased their target price on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $27.67.

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.