TD Asset Management Inc Decreases Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

TD Asset Management Inc reduced its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 23.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 475,800 shares of the company's stock after selling 148,400 shares during the period. TD Asset Management Inc owned about 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 modified their holdings of REYN. Cerity Partners LLC boosted its holdings in Reynolds Consumer Products by 418.8% in the 1st quarter. Cerity Partners LLC now owns 61,821 shares of the company's stock worth $1,475,000 after buying an additional 49,904 shares during the period. GAMMA Investing LLC boosted its holdings in Reynolds Consumer Products by 1,493.1% in the 1st quarter. GAMMA Investing LLC now owns 20,233 shares of the company's stock worth $483,000 after buying an additional 18,963 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Reynolds Consumer Products by 5.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 281,648 shares of the company's stock worth $6,720,000 after buying an additional 14,244 shares during the period. Hunter Perkins Capital Management LLC bought a new position in Reynolds Consumer Products in the 1st quarter worth approximately $649,000. Finally, Ameriprise Financial Inc. boosted its holdings in Reynolds Consumer Products by 214.8% in the 4th quarter. Ameriprise Financial Inc. now owns 20,870 shares of the company's stock worth $563,000 after buying an additional 14,241 shares during the period. 26.81% of the stock is owned by institutional investors.

Reynolds Consumer Products Price Performance

Shares of Reynolds Consumer Products stock traded down $0.45 on Friday, hitting $22.04. 1,278,183 shares of the company traded hands, compared to its average volume of 1,287,150. The firm's 50-day simple moving average is $21.76 and its 200 day simple moving average is $23.39. The company has a current ratio of 1.85, a quick ratio of 0.72 and a debt-to-equity ratio of 0.75. The company has a market cap of $4.64 billion, a P/E ratio of 14.79 and a beta of 0.58. Reynolds Consumer Products Inc. has a 12-month low of $20.91 and a 12-month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $938.00 million for the quarter, compared to analysts' expectations of $899.05 million. Reynolds Consumer Products had a net margin of 8.44% and a return on equity of 16.00%. The business's quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $0.46 EPS. Analysts expect that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.23 per share. 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 (DPR) is currently 61.74%.

Insider Buying and Selling at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl bought 4,500 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, June 20th. The shares were bought at an average price of $21.24 per share, with a total value of $95,580.00. Following the acquisition, the director owned 30,889 shares in the company, valued at approximately $656,082.36. This trade represents a 17.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Chris Mayrhofer bought 18,218 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, May 29th. The shares were acquired at an average cost of $22.14 per share, for a total transaction of $403,346.52. Following the acquisition, the chief accounting officer owned 18,218 shares in the company, valued at $403,346.52. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 34,766 shares of company stock worth $765,632. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Stifel Nicolaus lowered 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 note on Thursday, April 10th. Wall Street Zen upgraded shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Barclays increased their target price on shares of Reynolds Consumer Products from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Truist Financial lowered 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 note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Reynolds Consumer Products currently has a consensus rating of "Hold" and a consensus target price of $28.00.

Reynolds Consumer Products 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.