Envestnet Asset Management Inc. Cuts Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Envestnet Asset Management Inc. lessened its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 14.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,675 shares of the company’s stock after selling 19,178 shares during the quarter. Envestnet Asset Management Inc. owned about 0.05% of Reynolds Consumer Products worth $3,329,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Reynolds Consumer Products by 1.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,269,075 shares of the company’s stock worth $67,573,000 after purchasing an additional 36,791 shares during the last quarter. BlackRock Inc. raised its stake in shares of Reynolds Consumer Products by 4.4% during the first quarter. BlackRock Inc. now owns 2,149,796 shares of the company’s stock worth $64,021,000 after purchasing an additional 89,843 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of Reynolds Consumer Products by 215.5% during the first quarter. Thompson Siegel & Walmsley LLC now owns 1,568,084 shares of the company’s stock worth $46,698,000 after purchasing an additional 1,071,014 shares during the last quarter. Factorial Partners LLC raised its position in Reynolds Consumer Products by 12,388.4% in the first quarter. Factorial Partners LLC now owns 1,161,420 shares of the company’s stock worth $39,000,000 after acquiring an additional 1,152,120 shares in the last quarter. Finally, London Co. of Virginia raised its position in Reynolds Consumer Products by 0.7% in the first quarter. London Co. of Virginia now owns 1,005,439 shares of the company’s stock worth $29,942,000 after acquiring an additional 6,981 shares in the last quarter. Institutional investors and hedge funds own 26.69% of the company’s stock.

Several research analysts have issued reports on REYN shares. UBS Group started coverage on Reynolds Consumer Products in a research report on Wednesday, June 23rd. They issued a “neutral” rating and a $32.00 price objective for the company. Credit Suisse Group cut their price objective on Reynolds Consumer Products from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, August 3rd. Zacks Investment Research cut Reynolds Consumer Products from a “hold” rating to a “sell” rating in a research report on Saturday, July 31st. Royal Bank of Canada cut their price objective on Reynolds Consumer Products from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Tuesday, August 3rd. Finally, Citigroup cut their price objective on Reynolds Consumer Products from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Reynolds Consumer Products presently has a consensus rating of “Buy” and a consensus target price of $33.63.

In related news, CAO Chris Mayrhofer acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 5th. The shares were acquired at an average price of $27.84 per share, with a total value of $111,360.00. Following the completion of the purchase, the chief accounting officer now directly owns 789 shares in the company, valued at $21,965.76. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michael E. Graham purchased 2,400 shares of the firm’s stock in a transaction on Friday, August 6th. The stock was acquired at an average cost of $27.94 per share, for a total transaction of $67,056.00. Following the completion of the purchase, the chief financial officer now owns 10,359 shares in the company, valued at approximately $289,430.46. The disclosure for this purchase can be found here. 0.05% of the stock is owned by company insiders.

Shares of REYN stock opened at $27.94 on Wednesday. Reynolds Consumer Products Inc. has a fifty-two week low of $26.50 and a fifty-two week high of $32.63. The stock has a market cap of $5.86 billion, a P/E ratio of 15.52 and a beta of 0.36. The business has a fifty day simple moving average of $28.71 and a 200-day simple moving average of $29.61. The company has a quick ratio of 0.93, a current ratio of 2.21 and a debt-to-equity ratio of 1.25.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Sunday, August 1st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $847.00 million for the quarter, compared to analyst estimates of $893.53 million. Reynolds Consumer Products had a return on equity of 24.36% and a net margin of 11.34%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. On average, sell-side analysts anticipate that Reynolds Consumer Products Inc. will post 1.59 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Investors of record on Tuesday, August 17th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Monday, August 16th. Reynolds Consumer Products’s payout ratio is currently 46.70%.

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 foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and E-Z Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.

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Institutional Ownership by Quarter for Reynolds Consumer Products (NASDAQ:REYN)

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