Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 188.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 280,137 shares of the company’s stock after acquiring an additional 183,125 shares during the period. American Century Companies Inc. owned 0.13% of Reynolds Consumer Products worth $7,838,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC lifted 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 buying an additional 801 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Reynolds Consumer Products during the second quarter worth about $39,000. Quadrant Capital Group LLC raised its stake in Reynolds Consumer Products by 97.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock worth $52,000 after purchasing an additional 960 shares during the period. Parallel Advisors LLC boosted its holdings in Reynolds Consumer Products by 26.9% in the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after purchasing an additional 485 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Reynolds Consumer Products in the 2nd quarter valued at approximately $90,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Price Performance

Reynolds Consumer Products stock opened at $31.08 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. Reynolds Consumer Products Inc. has a 52-week low of $24.80 and a 52-week high of $32.65. The firm has a market cap of $6.53 billion, a PE ratio of 19.80 and a beta of 0.48. The company’s 50 day moving average is $30.01 and its two-hundred day moving average is $28.93.

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

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.92 annualized dividend and a yield of 2.96%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 58.60%.

Analyst Ratings Changes

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

Reynolds Consumer Products 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.