Victory Capital Management Inc. Purchases 2,619 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Victory Capital Management Inc. lifted its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 21.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,684 shares of the company’s stock after purchasing an additional 2,619 shares during the period. Victory Capital Management Inc.’s holdings in Reynolds Consumer Products were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in shares of Reynolds Consumer Products by 467.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock worth $66,000 after purchasing an additional 2,012 shares during the last quarter. Signaturefd LLC boosted its holdings in Reynolds Consumer Products by 120.8% in the fourth quarter. Signaturefd LLC now owns 4,106 shares of the company’s stock valued at $110,000 after acquiring an additional 2,246 shares during the last quarter. Ariel Investments LLC boosted its holdings in Reynolds Consumer Products by 11.8% in the third quarter. Ariel Investments LLC now owns 6,243 shares of the company’s stock valued at $160,000 after acquiring an additional 659 shares during the last quarter. First Affirmative Financial Network bought a new stake in Reynolds Consumer Products in the fourth quarter valued at approximately $209,000. Finally, Graham Capital Management L.P. bought a new stake in Reynolds Consumer Products in the third quarter valued at approximately $223,000. 26.81% of the stock is currently owned by institutional investors.

Reynolds Consumer Products Price Performance

Shares of NASDAQ:REYN opened at $28.51 on Friday. The company has a quick ratio of 1.01, a current ratio of 2.11 and a debt-to-equity ratio of 0.92. Reynolds Consumer Products Inc. has a twelve month low of $24.80 and a twelve month high of $30.54. The stock’s 50 day moving average is $28.58 and its 200-day moving average is $27.88. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 18.16 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. The company had revenue of $833.00 million for the quarter, compared to analyst estimates of $814.92 million. During the same period in the prior year, the firm earned $0.08 earnings per share. Reynolds Consumer Products’s revenue for the quarter was down 4.7% on a year-over-year basis. Sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.67 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, May 16th. Reynolds Consumer Products’s payout ratio is 58.60%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on REYN shares. TheStreet upgraded Reynolds Consumer Products from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. boosted their price target on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Stifel Nicolaus reissued a “hold” rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Barclays boosted their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 price target on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus target price of $30.00.

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.