Allspring Global Investments Holdings LLC Boosts Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Allspring Global Investments Holdings LLC raised its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,107,822 shares of the company’s stock after buying an additional 182,353 shares during the period. Reynolds Consumer Products comprises approximately 0.6% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 27th biggest position. Allspring Global Investments Holdings LLC owned 6.24% of Reynolds Consumer Products worth $351,564,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in Reynolds Consumer Products by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 572,862 shares of the company’s stock valued at $17,816,000 after buying an additional 6,065 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Reynolds Consumer Products in the third quarter valued at approximately $12,844,000. Olstein Capital Management L.P. boosted its holdings in shares of Reynolds Consumer Products by 43.3% in the fourth quarter. Olstein Capital Management L.P. now owns 237,000 shares of the company’s stock valued at $6,397,000 after purchasing an additional 71,624 shares during the period. Beacon Harbor Wealth Advisors Inc. purchased a new position in Reynolds Consumer Products during the 3rd quarter worth $5,731,000. Finally, Jane Street Group LLC increased its holdings in Reynolds Consumer Products by 758.9% during the 3rd quarter. Jane Street Group LLC now owns 167,722 shares of the company’s stock worth $5,216,000 after purchasing an additional 148,194 shares during the period. Institutional investors own 26.81% of the company’s stock.

Insider Buying and Selling at Reynolds Consumer Products

In other news, Director Helen Golding bought 1,190 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the transaction, the director now directly owns 1,190 shares in the company, valued at approximately $32,820.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rolf Stangl bought 3,682 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $27.50 per share, with a total value of $101,255.00. Following the purchase, the director now directly owns 10,889 shares in the company, valued at $299,447.50. The trade was a 51.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 10,872 shares of company stock worth $283,415. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on REYN. Canaccord Genuity Group lowered their target price on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 6th. UBS Group dropped their target price on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Evercore ISI cut their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price target on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Stifel Nicolaus cut their price objective on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating on the stock in a report 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.38.

Reynolds Consumer Products Stock Up 0.3 %

NASDAQ:REYN opened at $24.67 on Wednesday. Reynolds Consumer Products Inc. has a fifty-two week low of $24.26 and a fifty-two week high of $32.65. The company’s 50-day simple moving average is $27.14 and its 200-day simple moving average is $28.78. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 2.04. The stock has a market capitalization of $5.18 billion, a P/E ratio of 14.68 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting 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, equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 54.76%.

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.