Massachusetts Financial Services Co. MA Has $1.78 Million Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Massachusetts Financial Services Co. MA lessened its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 27.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,765 shares of the company's stock after selling 28,729 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Reynolds Consumer Products were worth $1,784,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of REYN. Edgestream Partners L.P. lifted its stake in Reynolds Consumer Products by 83.4% in the first quarter. Edgestream Partners L.P. now owns 61,613 shares of the company's stock worth $1,470,000 after acquiring an additional 28,018 shares during the last quarter. MQS Management LLC acquired a new position in shares of Reynolds Consumer Products in the 1st quarter valued at $314,000. Isthmus Partners LLC increased its holdings in shares of Reynolds Consumer Products by 3.2% in the 1st quarter. Isthmus Partners LLC now owns 90,116 shares of the company's stock valued at $2,150,000 after acquiring an additional 2,809 shares during the period. Cerity Partners LLC increased its holdings in shares of Reynolds Consumer Products by 418.8% in the 1st quarter. Cerity Partners LLC now owns 61,821 shares of the company's stock valued at $1,475,000 after acquiring an additional 49,904 shares during the period. Finally, Alps Advisors Inc. increased its holdings in shares of Reynolds Consumer Products by 7.8% in the 1st quarter. Alps Advisors Inc. now owns 90,578 shares of the company's stock valued at $2,161,000 after acquiring an additional 6,527 shares during the period. Hedge funds and other institutional investors own 26.81% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on REYN shares. UBS Group dropped their price objective on shares of Reynolds Consumer Products from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday. 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 research report on Thursday, May 1st. Stifel Nicolaus decreased their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Wall Street Zen upgraded shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Truist Financial decreased their target price on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $27.67.

Reynolds Consumer Products Stock Down 0.8%

NASDAQ:REYN traded down $0.18 during trading hours on Monday, hitting $21.55. The stock had a trading volume of 682,159 shares, compared to its average volume of 770,857. The company has a current ratio of 1.80, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. Reynolds Consumer Products Inc. has a 1-year low of $20.91 and a 1-year high of $32.65. The business has a 50 day simple moving average of $21.91 and a two-hundred day simple moving average of $23.67. The company has a market cap of $4.53 billion, a PE ratio of 13.47 and a beta of 0.57.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. The company had revenue of $801.00 million during the quarter, compared to analysts' expectations of $821.99 million. During the same period in the prior year, the business posted $0.23 EPS. The business's revenue was down 1.8% on a year-over-year basis. Analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Friday, May 16th. Reynolds Consumer Products's payout ratio is 57.50%.

Insiders Place Their Bets

In other Reynolds Consumer Products news, CAO Chris Mayrhofer purchased 5,048 shares of the stock in a transaction dated Friday, May 30th. The shares were bought at an average cost of $21.99 per share, with a total value of $111,005.52. Following the completion of the acquisition, the chief accounting officer owned 23,266 shares of the company's stock, valued at approximately $511,619.34. This trade represents a 27.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rolf Stangl purchased 4,500 shares of the stock in a transaction dated Friday, June 20th. The shares were acquired at an average cost of $21.24 per share, for a total transaction of $95,580.00. Following the completion of the acquisition, the director directly owned 30,889 shares of the company's stock, valued at approximately $656,082.36. This trade represents a 17.05% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 34,766 shares of company stock worth $765,632 over the last quarter. 0.15% of the stock is currently owned by company insiders.

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.