Allspring Global Investments Holdings LLC grew its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,891,557 shares of the company's stock after purchasing an additional 41,949 shares during the quarter. Reynolds Consumer Products accounts for 0.6% of Allspring Global Investments Holdings LLC's investment portfolio, making the stock its 25th biggest position. Allspring Global Investments Holdings LLC owned 6.14% of Reynolds Consumer Products worth $346,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC increased its position in shares of Reynolds Consumer Products by 7.4% during the third quarter. FMR LLC now owns 6,454,619 shares of the company's stock worth $165,432,000 after acquiring an additional 442,654 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Reynolds Consumer Products by 0.3% during the third quarter. Vanguard Group Inc. now owns 5,607,712 shares of the company's stock worth $143,726,000 after acquiring an additional 19,527 shares during the last quarter. First Trust Advisors LP increased its holdings in Reynolds Consumer Products by 5.9% in the first quarter. First Trust Advisors LP now owns 2,805,066 shares of the company's stock valued at $77,139,000 after buying an additional 155,206 shares during the last quarter. BlackRock Inc. increased its holdings in Reynolds Consumer Products by 0.5% in the second quarter. BlackRock Inc. now owns 2,570,003 shares of the company's stock valued at $72,603,000 after buying an additional 13,347 shares during the last quarter. Finally, State Street Corp increased its holdings in Reynolds Consumer Products by 3.3% in the first quarter. State Street Corp now owns 958,125 shares of the company's stock valued at $26,348,000 after buying an additional 30,914 shares during the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.
Reynolds Consumer Products Stock Performance
Shares of NASDAQ:REYN traded up $0.11 during trading on Monday, hitting $28.25. 486,923 shares of the company traded hands, compared to its average volume of 607,951. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 19.82 and a beta of 0.49. The business's fifty day moving average is $28.61 and its 200-day moving average is $27.13. Reynolds Consumer Products Inc. has a one year low of $24.80 and a one year high of $30.54. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 0.92.
Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.03. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company posted $0.53 EPS. The business's revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, equities analysts predict that Reynolds Consumer Products Inc. will post 1.61 earnings per share for the current fiscal year.
Reynolds Consumer Products Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Wednesday, February 14th. Reynolds Consumer Products's dividend payout ratio is currently 64.79%.
Analyst Ratings Changes
REYN has been the subject of several research analyst reports. Barclays boosted their price objective on Reynolds Consumer Products from $25.00 to $27.00 and gave the company an "equal weight" rating in a report on Tuesday, January 16th. JPMorgan Chase & Co. boosted their price objective on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Thursday, February 8th. Royal Bank of Canada reissued a "sector perform" rating and issued a $31.00 price objective on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Stifel Nicolaus reissued a "hold" rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Finally, TheStreet raised Reynolds Consumer Products from a "c+" rating to a "b-" rating in a report on Thursday, February 1st. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $29.60.
Check Out Our Latest Stock Report on REYN
Reynolds Consumer Products Profile
(
Free Report)
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.
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