Reynolds Consumer Products Inc. (NASDAQ:REYN) Stock Position Increased by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,072,422 shares of the company's stock after purchasing an additional 26,664 shares during the period. Geode Capital Management LLC owned about 0.51% of Reynolds Consumer Products worth $28,953,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Blue Trust Inc. raised its holdings 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 worth $35,000 after buying an additional 698 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Reynolds Consumer Products in the fourth quarter valued at about $40,000. Farther Finance Advisors LLC grew its position in shares of Reynolds Consumer Products by 667.1% in the fourth 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 during the period. Venturi Wealth Management LLC grew its position in shares of 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 purchasing an additional 921 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in Reynolds Consumer Products in the 4th quarter valued at about $165,000. Hedge funds and other institutional investors own 26.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. cut their price target on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Canaccord Genuity Group lowered their price target on Reynolds Consumer Products from $30.00 to $27.00 and set a "hold" rating for the company in a research report on Wednesday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $32.00 target price on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Barclays cut their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Finally, Evercore ISI lowered their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Reynolds Consumer Products has a consensus rating of "Hold" and a consensus target price of $28.63.

Reynolds Consumer Products Price Performance

Shares of NASDAQ:REYN traded down $0.08 during midday trading on Wednesday, hitting $24.00. 47,474 shares of the stock were exchanged, compared to its average volume of 602,140. The company has a 50 day moving average price of $23.81 and a 200-day moving average price of $26.33. Reynolds Consumer Products Inc. has a twelve month low of $21.90 and a twelve month high of $32.65. The stock has a market cap of $5.05 billion, a P/E ratio of 14.29 and a beta of 0.64. 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 (NASDAQ:REYN - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. On average, research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products's payout ratio is currently 54.76%.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 6,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $24.89 per share, with a total value of $149,340.00. Following the acquisition, the director now owns 16,889 shares in the company, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.