The Manufacturers Life Insurance Company Has $8.32 Million Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

The Manufacturers Life Insurance Company lowered its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 41.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 267,664 shares of the company’s stock after selling 187,785 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.13% of Reynolds Consumer Products worth $8,324,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in REYN. Allspring Global Investments Holdings LLC lifted its position in Reynolds Consumer Products by 1.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,925,469 shares of the company’s stock worth $401,982,000 after buying an additional 137,083 shares in the last quarter. Pacer Advisors Inc. boosted its position in Reynolds Consumer Products by 48.6% in the 2nd quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock valued at $108,845,000 after buying an additional 1,272,353 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Reynolds Consumer Products by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock valued at $49,859,000 after buying an additional 261,513 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Reynolds Consumer Products by 122.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock valued at $43,588,000 after buying an additional 858,419 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Reynolds Consumer Products by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company’s stock worth $28,166,000 after acquiring an additional 66,826 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Down 0.4 %

NASDAQ:REYN opened at $27.75 on Wednesday. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 15.86 and a beta of 0.50. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The stock has a 50-day moving average price of $28.84 and a two-hundred day moving average price of $29.04. Reynolds Consumer Products Inc. has a 1 year low of $26.16 and a 1 year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The business had revenue of $910.00 million for the quarter, compared to the consensus estimate of $902.88 million. During the same period in the previous year, the company posted $0.37 earnings per share. Reynolds Consumer Products’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities analysts expect that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.32%. Reynolds Consumer Products’s payout ratio is presently 52.57%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank of Canada lifted 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. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Canaccord Genuity Group lifted their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Barclays cut their price target on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.17.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Helen Golding bought 1,190 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $27.58 per share, with a total value of $32,820.20. Following the completion of the transaction, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rolf Stangl purchased 7,207 shares of the business’s stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the transaction, the director now directly owns 7,207 shares in the company, valued at approximately $196,390.75. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

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.