Massachusetts Financial Services Co. MA Has $1.61 Million Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Massachusetts Financial Services Co. MA trimmed its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 11.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,457 shares of the company’s stock after selling 7,564 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Reynolds Consumer Products were worth $1,608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of REYN. Victory Capital Management Inc. lifted its stake in shares of Reynolds Consumer Products by 21.7% in the fourth quarter. Victory Capital Management Inc. now owns 14,684 shares of the company’s stock valued at $394,000 after buying an additional 2,619 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Reynolds Consumer Products by 10.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 536,320 shares of the company’s stock worth $14,395,000 after acquiring an additional 50,425 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Reynolds Consumer Products in the 4th quarter worth approximately $491,000. Dimensional Fund Advisors LP grew its holdings in shares of Reynolds Consumer Products by 23.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock worth $31,069,000 after purchasing an additional 218,864 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Reynolds Consumer Products during the fourth quarter valued at approximately $282,000. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Reynolds Consumer Products Price Performance

Shares of Reynolds Consumer Products stock opened at $32.17 on Monday. Reynolds Consumer Products Inc. has a 1-year low of $24.80 and a 1-year high of $32.65. The firm’s 50-day moving average price is $29.93 and its two-hundred day moving average price is $28.91. The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 20.49 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, topping 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 business had revenue of $930.00 million for the quarter, compared to analyst estimates of $890.71 million. During the same period in the prior year, the company earned $0.32 EPS. Reynolds Consumer Products’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts predict that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.92 annualized dividend and a yield of 2.86%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 58.60%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Canaccord Genuity Group raised their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their target price 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. Barclays raised their price target on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.00.

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.