TD Asset Management Inc Sells 148,400 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

TD Asset Management Inc cut its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 23.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 475,800 shares of the company's stock after selling 148,400 shares during the period. TD Asset Management Inc owned approximately 0.23% of Reynolds Consumer Products worth $11,353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of REYN. Quarry LP raised its position in shares of Reynolds Consumer Products by 187.0% during the 4th quarter. Quarry LP now owns 2,531 shares of the company's stock valued at $68,000 after acquiring an additional 1,649 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Reynolds Consumer Products by 38.1% during the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock valued at $61,000 after acquiring an additional 701 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Reynolds Consumer Products during the 4th quarter worth about $165,000. Deutsche Bank AG lifted its holdings in shares of 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. Finally, Ariel Investments LLC boosted its stake in shares of Reynolds Consumer Products by 6.1% during the 4th quarter. Ariel Investments LLC now owns 7,446 shares of the company's stock valued at $201,000 after buying an additional 426 shares during the period. Hedge funds and other institutional investors own 26.81% of the company's stock.

Insider Activity

In other news, CAO Chris Mayrhofer acquired 5,048 shares of the company's stock in a transaction dated Friday, May 30th. The stock was bought at an average price 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 in the company, valued at approximately $511,619.34. This represents a 27.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rolf Stangl bought 4,500 shares of Reynolds Consumer Products stock in a transaction dated Friday, June 20th. The stock was 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 in the company, valued at $656,082.36. This represents a 17.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 34,766 shares of company stock worth $765,632. 0.15% of the stock is owned by insiders.

Reynolds Consumer Products Stock Performance

REYN traded down $0.45 during trading on Friday, reaching $22.04. 1,278,183 shares of the company's stock were exchanged, compared to its average volume of 1,287,150. The company has a market capitalization of $4.64 billion, a P/E ratio of 14.79 and a beta of 0.58. The company has a quick ratio of 0.72, a current ratio of 1.85 and a debt-to-equity ratio of 0.75. The business has a 50 day moving average price of $21.76 and a 200 day moving average price of $23.44. Reynolds Consumer Products Inc. has a fifty-two week low of $20.91 and a fifty-two week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share for the quarter, beating 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 business had revenue of $938.00 million for the quarter, compared to analyst estimates of $899.05 million. During the same period in the previous year, the business earned $0.46 EPS. The firm's revenue was up .9% on a year-over-year basis. As a group, analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.92 annualized dividend and a dividend yield of 4.2%. Reynolds Consumer Products's dividend payout ratio is presently 61.74%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on REYN shares. UBS Group lifted their price target on Reynolds Consumer Products from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday. Stifel Nicolaus decreased their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Canaccord Genuity Group reduced their price objective on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. reduced their price target on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Truist Financial dropped 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 report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $28.00.

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.