59,848 Shares in Reynolds Consumer Products Inc. (NASDAQ:REYN) Bought by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC acquired a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 59,848 shares of the company’s stock, valued at approximately $1,615,000.

A number of other hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its position in shares of Reynolds Consumer Products by 4.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company’s stock valued at $363,000 after purchasing an additional 566 shares in the last quarter. Barclays PLC lifted its position in shares of Reynolds Consumer Products by 173.9% during the 3rd quarter. Barclays PLC now owns 63,121 shares of the company’s stock worth $1,963,000 after buying an additional 40,075 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Reynolds Consumer Products in the 3rd quarter worth approximately $4,397,000. Proficio Capital Partners LLC bought a new position in shares of Reynolds Consumer Products in the fourth quarter valued at approximately $424,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Reynolds Consumer Products by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company’s stock valued at $15,976,000 after acquiring an additional 19,044 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 stock opened at $23.98 on Thursday. The firm’s 50 day moving average is $24.78 and its 200 day moving average is $27.14. The stock has a market capitalization of $5.04 billion, a P/E ratio of 14.27 and a beta of 0.56. Reynolds Consumer Products Inc. has a 12 month low of $23.13 and a 12 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.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting 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 anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.23 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.92 annualized dividend and a yield of 3.84%. Reynolds Consumer Products’s dividend payout ratio is currently 54.76%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on REYN shares. Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Stifel Nicolaus decreased their price objective on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, February 6th. UBS Group dropped their target price on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Canaccord Genuity Group decreased their price target on shares of 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. Finally, Barclays lowered their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $30.38.

Insider Buying and Selling at Reynolds Consumer Products

In other news, Director Rolf Stangl acquired 6,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the transaction, the director now owns 16,889 shares of the company’s stock, valued at $420,367.21. The trade was a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.15% of the company’s stock.

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.