Geode Capital Management LLC Raises Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Geode Capital Management LLC increased its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,072,422 shares of the company’s stock after buying an additional 26,664 shares during the period. Geode Capital Management LLC’s holdings in Reynolds Consumer Products were worth $28,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Reynolds Consumer Products during the fourth quarter valued at $17,964,000. Allspring Global Investments Holdings LLC lifted its stake in Reynolds Consumer Products by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock valued at $351,564,000 after buying an additional 182,353 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Reynolds Consumer Products by 13.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock valued at $32,707,000 after buying an additional 139,576 shares in the last quarter. KBC Group NV acquired a new stake in Reynolds Consumer Products in the 4th quarter worth about $2,903,000. Finally, Sei Investments Co. increased its stake in Reynolds Consumer Products by 13.7% during the 4th quarter. Sei Investments Co. now owns 766,463 shares of the company’s stock worth $20,687,000 after buying an additional 92,473 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director Rolf Stangl acquired 6,000 shares of Reynolds Consumer Products stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the acquisition, the director now owns 16,889 shares in the company, valued at approximately $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on REYN shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Canaccord Genuity Group lowered their target price on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. UBS Group dropped their target price on shares of Reynolds Consumer Products from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday. Stifel Nicolaus decreased their price target on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Finally, Barclays dropped their price objective on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Reynolds Consumer Products presently has an average rating of “Hold” and an average price target of $29.00.

Reynolds Consumer Products Stock Up 2.4 %

NASDAQ REYN opened at $23.65 on Friday. The business’s fifty day simple moving average is $23.85 and its 200-day simple moving average is $26.48. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. The firm has a market cap of $4.97 billion, a PE ratio of 14.08 and a beta of 0.64. Reynolds Consumer Products Inc. has a 52 week low of $21.90 and a 52 week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. As a group, equities analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 annualized dividend and a yield of 3.89%. Reynolds Consumer Products’s payout ratio is 54.76%.

About Reynolds Consumer Products

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.