Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 19.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 334,535 shares of the company's stock after purchasing an additional 54,203 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of Reynolds Consumer Products worth $9,029,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Isthmus Partners LLC lifted its holdings in Reynolds Consumer Products by 0.6% during the 4th quarter. Isthmus Partners LLC now owns 87,307 shares of the company's stock worth $2,356,000 after buying an additional 533 shares in the last quarter. MML Investors Services LLC boosted its holdings in Reynolds Consumer Products by 1.3% in the third quarter. MML Investors Services LLC now owns 48,700 shares of the company's stock valued at $1,515,000 after purchasing an additional 641 shares during the period. Blue Trust Inc. grew its stake in Reynolds Consumer Products by 115.2% during the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after purchasing an additional 698 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in Reynolds Consumer Products by 5.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company's stock worth $443,000 after purchasing an additional 814 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Reynolds Consumer Products by 36.0% during the 4th quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock worth $94,000 after purchasing an additional 921 shares during the period. Hedge funds and other institutional investors own 26.81% of the company's stock.

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Insider Activity at Reynolds Consumer Products

In related news, Director Rolf Stangl purchased 3,682 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average cost of $27.50 per share, with a total value of $101,255.00. Following the completion of the acquisition, the director now directly owns 10,889 shares in the company, valued at $299,447.50. This trade represents a 51.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Reynolds Consumer Products from $30.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Canaccord Genuity Group lowered their price target on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a "hold" rating for the company in a report on Thursday, February 6th. UBS Group reduced their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Evercore ISI lowered their target price on shares of 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. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Reynolds Consumer Products has a consensus rating of "Hold" and an average price target of $30.38.

Reynolds Consumer Products Stock Performance

Shares of REYN stock traded up $0.31 during mid-day trading on Wednesday, hitting $23.90. 1,094,206 shares of the stock were exchanged, compared to its average volume of 557,006. Reynolds Consumer Products Inc. has a 12-month low of $23.13 and a 12-month high of $32.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 14.23 and a beta of 0.56. The stock's fifty day simple moving average is $25.45 and its two-hundred day simple moving average is $27.74.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. On average, analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products's dividend payout ratio is currently 54.76%.

About Reynolds Consumer Products

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.