Sei Investments Co. Buys 95,469 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Sei Investments Co. grew its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 18.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 612,775 shares of the company’s stock after buying an additional 95,469 shares during the period. Sei Investments Co. owned 0.29% of Reynolds Consumer Products worth $17,146,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Reynolds Consumer Products by 0.5% in the first quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock worth $161,739,000 after buying an additional 29,838 shares in the last quarter. Acadian Asset Management LLC raised its position in Reynolds Consumer Products by 994.7% in the 1st quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock worth $6,068,000 after purchasing an additional 193,265 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Reynolds Consumer Products by 23.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock worth $31,069,000 after buying an additional 218,864 shares during the period. SG Americas Securities LLC bought a new stake in Reynolds Consumer Products in the second quarter valued at approximately $695,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Reynolds Consumer Products by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company’s stock valued at $28,166,000 after acquiring an additional 66,826 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 REYN opened at $30.95 on Friday. Reynolds Consumer Products Inc. has a one year low of $24.80 and a one year high of $32.65. The business has a fifty day moving average of $30.15 and a 200 day moving average of $28.96. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. The firm has a market capitalization of $6.50 billion, a P/E ratio of 19.71 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $930.00 million during the quarter, compared to analyst estimates of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. As a group, sell-side analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio is presently 58.60%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Jefferies Financial Group initiated coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Barclays increased their target price on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. Royal Bank of Canada boosted their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group increased their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Reynolds Consumer Products presently has a consensus rating of “Hold” and an average target price of $32.00.

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.