BlackRock Inc. purchased a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN – Free Report) during the 2nd quarter, Holdings Channel reports. The fund purchased 7,080,422 shares of the company’s stock, valued at approximately $190,109,000.
Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake in Reynolds Consumer Products by 70.4% during the fourth quarter. Larson Financial Group LLC now owns 1,264 shares of the company’s stock worth $29,000 after buying an additional 522 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Reynolds Consumer Products in the second quarter valued at $31,000. Farther Finance Advisors LLC lifted its holdings in shares of Reynolds Consumer Products by 127.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,391 shares of the company’s stock worth $32,000 after acquiring an additional 780 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Reynolds Consumer Products in the 2nd quarter worth about $34,000. Finally, SJS Investment Consulting Inc. boosted its stake in shares of Reynolds Consumer Products by 4,657.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,808 shares of the company’s stock worth $38,000 after purchasing an additional 1,770 shares during the period. 26.81% of the stock is currently owned by institutional investors.
Reynolds Consumer Products Price Performance
Shares of REYN opened at $24.20 on Friday. The company has a 50 day moving average price of $25.88 and a 200-day moving average price of $23.47. Reynolds Consumer Products Inc. has a fifty-two week low of $20.44 and a fifty-two week high of $27.32. The stock has a market capitalization of $5.10 billion, a PE ratio of 14.76 and a beta of 0.55. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.71 and a current ratio of 1.80.
Reynolds Consumer Products Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be issued a $0.23 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.8%. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 56.10%.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Piper Sandler upgraded shares of Reynolds Consumer Products to an “overweight” rating in a report on Thursday, July 30th. Canaccord Genuity Group raised their price objective on shares of Reynolds Consumer Products from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded Reynolds Consumer Products from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. upped their target price on Reynolds Consumer Products from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, Barclays increased their price target on Reynolds Consumer Products from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.60.
View Our Latest Analysis on REYN
Reynolds Consumer Products Profile
Reynolds Consumer Products, Inc (NASDAQ: REYN) is a leading North American manufacturer and marketer of household consumer products. The company specializes in food storage and cooking solutions, including aluminum foil, plastic wrap, food storage containers and disposable tableware. Its core portfolio features well-known brands such as Reynolds Wrap aluminum foil, Hefty storage containers and trash bags, and Fastfold paper plates.
The company operates through a network of manufacturing and distribution facilities across North America, Latin America, Europe and the Asia Pacific region.
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