Massachusetts Financial Services Co. MA Increases Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Massachusetts Financial Services Co. MA boosted its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 22.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,255 shares of the company’s stock after purchasing an additional 12,798 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Reynolds Consumer Products were worth $2,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of REYN. Vanguard Group Inc. raised its stake in Reynolds Consumer Products by 0.5% in the first 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 in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Reynolds Consumer Products by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,168 shares of the company’s stock worth $348,000 after acquiring an additional 1,726 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Reynolds Consumer Products during the first quarter worth approximately $252,000. Tidal Investments LLC raised its stake in shares of Reynolds Consumer Products by 83.7% during the first quarter. Tidal Investments LLC now owns 29,060 shares of the company’s stock worth $830,000 after acquiring an additional 13,237 shares in the last quarter. Finally, Keynote Financial Services LLC purchased a new position in shares of Reynolds Consumer Products during the first quarter worth approximately $439,000. 26.81% of the stock is owned by hedge funds and other institutional investors.

Reynolds Consumer Products Stock Performance

NASDAQ:REYN opened at $27.75 on Wednesday. The stock has a market cap of $5.83 billion, a P/E ratio of 15.86 and a beta of 0.50. The firm’s fifty day simple moving average is $29.21 and its 200 day simple moving average is $29.09. Reynolds Consumer Products Inc. has a twelve month low of $25.81 and a twelve month high of $32.65. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84.

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

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 52.57%.

Wall Street Analyst Weigh In

Several research firms have commented on REYN. JPMorgan Chase & Co. lifted their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Barclays decreased their price target on shares of 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. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 target price on the stock. Canaccord Genuity Group raised 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. Finally, Royal Bank of Canada raised their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Reynolds Consumer Products currently has a consensus rating of “Hold” and an average target price of $32.17.

Insider Activity

In other Reynolds Consumer Products news, Director Helen Golding bought 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 acquisition, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. This represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rolf Stangl bought 7,207 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the acquisition, the director now owns 7,207 shares in the company, valued at approximately $196,390.75. This represents a ? increase in their position. The disclosure for this purchase can be found here. Company 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.