Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 23.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 255,755 shares of the company's stock after selling 78,780 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Reynolds Consumer Products worth $6,102,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP lifted its position in shares of Reynolds Consumer Products by 187.0% during the fourth quarter. Quarry LP now owns 2,531 shares of the company's stock worth $68,000 after purchasing an additional 1,649 shares in the last quarter. Versant Capital Management Inc increased its stake in Reynolds Consumer Products by 38.1% in the first quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock valued at $61,000 after purchasing an additional 701 shares in the last quarter. Deutsche Bank AG increased its stake in Reynolds Consumer Products by 35.8% in the fourth quarter. Deutsche Bank AG now owns 7,247 shares of the company's stock valued at $196,000 after purchasing an additional 1,910 shares in the last quarter. Ariel Investments LLC increased its position in shares of Reynolds Consumer Products by 6.1% during the fourth quarter. Ariel Investments LLC now owns 7,446 shares of the company's stock worth $201,000 after acquiring an additional 426 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Reynolds Consumer Products during the fourth quarter worth $211,000. 26.81% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have commented on the stock. Barclays increased their price target on shares of Reynolds Consumer Products from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $30.00 price target on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Canaccord Genuity Group decreased their target price on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Truist Financial reduced their price target on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, UBS Group lifted their target price on shares of Reynolds Consumer Products from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $28.00.
Read Our Latest Research Report on Reynolds Consumer Products
Reynolds Consumer Products Stock Down 2.4%
REYN stock traded down $0.56 during midday trading on Friday, reaching $22.58. 878,237 shares of the company's stock traded hands, compared to its average volume of 1,324,448. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 15.15 and a beta of 0.58. The firm's fifty day moving average price is $21.88 and its 200-day moving average price is $23.09. The company has a quick ratio of 0.75, a current ratio of 1.85 and a debt-to-equity ratio of 0.75. Reynolds Consumer Products Inc. has a 52 week low of $20.91 and a 52 week high of $32.65.
Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Reynolds Consumer Products had a net margin of 8.44% and a return on equity of 16.00%. The firm had revenue of $938.00 million during the quarter, compared to analyst estimates of $899.05 million. During the same quarter in the prior year, the business posted $0.46 EPS. The business's revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.
Reynolds Consumer Products Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, August 15th. Reynolds Consumer Products's payout ratio is 61.74%.
Insider Transactions at Reynolds Consumer Products
In other Reynolds Consumer Products news, Director Rolf Stangl acquired 4,500 shares of the company's stock in a transaction on Friday, June 20th. The shares were acquired at an average cost of $21.24 per share, with a total value of $95,580.00. Following the completion of the acquisition, the director directly owned 30,889 shares in the company, valued at $656,082.36. This trade represents a 17.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Chris Mayrhofer acquired 18,218 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was bought at an average price of $22.14 per share, for a total transaction of $403,346.52. Following the completion of the transaction, the chief accounting officer owned 18,218 shares of the company's stock, valued at $403,346.52. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 32,266 shares of company stock worth $707,582 over the last three months. 0.15% of the stock is owned by insiders.
Reynolds Consumer Products Company Profile
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Free Report)
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.
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