28,547 Shares in Reynolds Consumer Products Inc. (NASDAQ:REYN) Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp bought a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 28,547 shares of the company's stock, valued at approximately $770,000.

A number of other institutional investors and hedge funds have also bought and sold shares of REYN. Ariel Investments LLC increased its position in 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 during the period. Isthmus Partners LLC increased its holdings in shares of Reynolds Consumer Products by 0.6% during the fourth quarter. Isthmus Partners LLC now owns 87,307 shares of the company's stock worth $2,356,000 after purchasing an additional 533 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Reynolds Consumer Products by 4.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock valued at $363,000 after buying an additional 566 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock valued at $35,000 after buying an additional 698 shares during the period. Finally, Kestra Private Wealth Services LLC grew its position in Reynolds Consumer Products by 5.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company's stock worth $443,000 after buying an additional 814 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.

Insiders Place Their Bets

In related news, CAO Chris Mayrhofer bought 18,218 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were acquired at an average cost of $22.14 per share, with a total value of $403,346.52. Following the completion of the purchase, the chief accounting officer now directly owns 18,218 shares in the company, valued at $403,346.52. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rolf Stangl acquired 2,500 shares of Reynolds Consumer Products stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $23.22 per share, with a total value of $58,050.00. Following the completion of the acquisition, the director now directly owns 19,389 shares of the company's stock, valued at approximately $450,212.58. The trade was a 14.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 25,766 shares of company stock worth $572,402. Company insiders own 0.15% of the company's stock.

Reynolds Consumer Products Price Performance

Shares of REYN traded down $0.54 during trading hours on Thursday, reaching $21.48. The stock had a trading volume of 841,786 shares, compared to its average volume of 651,462. The company's 50-day moving average is $23.03 and its two-hundred day moving average is $25.01. Reynolds Consumer Products Inc. has a 12 month low of $21.45 and a 12 month high of $32.65. The stock has a market capitalization of $4.52 billion, a PE ratio of 12.79 and a beta of 0.61. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The business had revenue of $801.00 million for the quarter, compared to the consensus estimate of $821.99 million. During the same period last year, the company earned $0.23 EPS. The firm's revenue was down 1.8% compared to the same quarter last year. Research analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.23 per share. The ex-dividend date was Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 4.28%. Reynolds Consumer Products's dividend payout ratio (DPR) is currently 57.50%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Stifel Nicolaus dropped their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Evercore ISI dropped their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Monday, April 28th. JPMorgan Chase & Co. decreased their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Truist Financial cut their price target on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $28.33.

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.