Victory Capital Management Inc. Has $528,000 Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Victory Capital Management Inc. increased its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 8.7% during the third quarter, HoldingsChannel reports. The fund owned 16,963 shares of the company’s stock after buying an additional 1,351 shares during the period. Victory Capital Management Inc.’s holdings in Reynolds Consumer Products were worth $528,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in REYN. GAMMA Investing LLC raised its holdings in shares of 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 during the period. Versant Capital Management Inc bought a new position in Reynolds Consumer Products in the second quarter valued at $39,000. Abich Financial Wealth Management LLC bought a new position in Reynolds Consumer Products in the second quarter valued at $54,000. Capital Performance Advisors LLP bought a new position in Reynolds Consumer Products in the third quarter valued at $70,000. Finally, Venturi Wealth Management LLC grew its position in Reynolds Consumer Products by 93.7% in the third quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock valued at $80,000 after purchasing an additional 1,239 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Reynolds Consumer Products news, Director Helen Golding acquired 1,190 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was acquired at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the purchase, the director now directly owns 1,190 shares of the company’s stock, valued at $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rolf Stangl acquired 7,207 shares of the company’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $27.25 per share, with a total value of $196,390.75. Following the purchase, the director now directly owns 7,207 shares in the company, valued at approximately $196,390.75. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by insiders.

Reynolds Consumer Products Stock Performance

Shares of REYN stock opened at $27.69 on Friday. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 15.82 and a beta of 0.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. The company has a 50-day simple moving average of $28.97 and a 200 day simple moving average of $29.06. Reynolds Consumer Products Inc. has a 52 week low of $26.07 and a 52 week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $910.00 million for the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 EPS. On average, sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Friday, November 15th. Reynolds Consumer Products’s payout ratio is 52.57%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on REYN shares. Canaccord Genuity Group raised their target price 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. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 target price for the company. Royal Bank of Canada lifted their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. Barclays decreased their price objective on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted 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 report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Reynolds Consumer Products currently has a consensus rating of “Hold” and a consensus target price of $32.17.

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.