Dimensional Fund Advisors LP Has $49.86 Million Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Dimensional Fund Advisors LP grew its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 17.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,781,815 shares of the company’s stock after acquiring an additional 261,513 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Reynolds Consumer Products were worth $49,859,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Reynolds Consumer Products by 510.2% during the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $27,000 after acquiring an additional 801 shares in the last quarter. Versant Capital Management Inc bought a new position in Reynolds Consumer Products during the second quarter worth about $39,000. Parallel Advisors LLC increased its holdings in shares of Reynolds Consumer Products by 26.9% during the fourth quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock worth $61,000 after purchasing an additional 485 shares during the period. nVerses Capital LLC acquired a new position in Reynolds Consumer Products in the 2nd quarter valued at $90,000. Finally, Covestor Ltd lifted its position in shares of Reynolds Consumer Products by 15.8% during the 1st quarter. Covestor Ltd now owns 3,520 shares of the company’s stock valued at $101,000 after acquiring an additional 480 shares during the period. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Reynolds Consumer Products Stock Performance

REYN opened at $31.14 on Monday. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 19.83 and a beta of 0.48. The company’s fifty day moving average price is $30.32 and its two-hundred day moving average price is $28.99. Reynolds Consumer Products Inc. has a 1-year low of $24.80 and a 1-year high of $32.65. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The business had revenue of $930.00 million during the quarter, compared to the consensus estimate of $890.71 million. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. On average, analysts expect that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Friday, August 16th. Reynolds Consumer Products’s payout ratio is 58.60%.

Wall Street Analysts Forecast Growth

REYN has been the subject of several research analyst reports. Canaccord Genuity Group boosted their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Barclays upped their price objective 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 increased their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on Reynolds Consumer Products in a research note on Thursday, August 29th. They set a “buy” rating and a $38.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.00.

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.