Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 47.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 280,332 shares of the company's stock after selling 253,893 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of Reynolds Consumer Products worth $8,718,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Reynolds Consumer Products by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company's stock valued at $161,739,000 after purchasing an additional 29,838 shares during the last quarter. SG Americas Securities LLC acquired a new position in Reynolds Consumer Products during the second quarter worth $695,000. Sei Investments Co. grew its holdings in shares of Reynolds Consumer Products by 18.5% in the second quarter. Sei Investments Co. now owns 612,775 shares of the company's stock valued at $17,146,000 after purchasing an additional 95,469 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Reynolds Consumer Products by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company's stock valued at $28,166,000 after buying an additional 66,826 shares during the period. Finally, Pacer Advisors Inc. grew its position in Reynolds Consumer Products by 48.6% in the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company's stock worth $108,845,000 after acquiring an additional 1,272,353 shares during the period. Hedge funds and other institutional investors own 26.81% of the company's stock.

Analyst Ratings Changes

REYN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, August 8th. Barclays reduced their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They set a "buy" rating and a $38.00 target price for the company. Canaccord Genuity Group raised their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a "hold" rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada upped their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Reynolds Consumer Products currently has a consensus rating of "Hold" and an average price target of $32.17.

Reynolds Consumer Products Price Performance

Shares of NASDAQ REYN opened at $27.76 on Friday. Reynolds Consumer Products Inc. has a one year low of $25.81 and a one year high of $32.65. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. The firm has a market capitalization of $5.83 billion, a P/E ratio of 15.86 and a beta of 0.50. The company's fifty day moving average is $29.36 and its two-hundred day moving average is $29.10.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). The business had revenue of $910.00 million for the quarter, compared to analysts' expectations of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The company's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the business earned $0.37 earnings per share. Analysts forecast that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products's dividend payout ratio is currently 52.57%.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl bought 7,207 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the purchase, the director now owns 7,207 shares in the company, valued at $196,390.75. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Helen Golding acquired 1,190 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the purchase, the director now directly owns 1,190 shares of the company's stock, valued at approximately $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.20% of the company's stock.

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.