Geode Capital Management LLC Buys 26,664 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Geode Capital Management LLC grew its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,072,422 shares of the company’s stock after acquiring an additional 26,664 shares during the quarter. Geode Capital Management LLC owned about 0.51% of Reynolds Consumer Products worth $28,953,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Reynolds Consumer Products during the fourth quarter valued at about $17,964,000. Allspring Global Investments Holdings LLC raised its stake in shares of Reynolds Consumer Products by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after acquiring an additional 182,353 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Reynolds Consumer Products by 13.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock valued at $32,707,000 after acquiring an additional 139,576 shares during the last quarter. KBC Group NV acquired a new stake in Reynolds Consumer Products in the fourth quarter valued at approximately $2,903,000. Finally, Sei Investments Co. grew its holdings in Reynolds Consumer Products by 13.7% in the fourth quarter. Sei Investments Co. now owns 766,463 shares of the company’s stock worth $20,687,000 after purchasing an additional 92,473 shares during the last quarter. 26.81% of the stock is owned by institutional investors.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl bought 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the purchase, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Reynolds Consumer Products Price Performance

Shares of NASDAQ:REYN opened at $23.65 on Friday. Reynolds Consumer Products Inc. has a twelve month low of $21.90 and a twelve month high of $32.65. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The company has a market cap of $4.97 billion, a PE ratio of 14.08 and a beta of 0.64. The company’s 50 day moving average is $23.85 and its 200 day moving average is $26.48.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. On average, sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.89%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 54.76%.

Wall Street Analyst Weigh In

Several analysts have recently commented on REYN shares. Stifel Nicolaus decreased their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Canaccord Genuity Group decreased their price target on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. UBS Group dropped their price target on Reynolds Consumer Products from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday. Barclays decreased their price objective on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Finally, Evercore ISI dropped 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. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.00.

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.