Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 460,456 shares of the company’s stock, valued at approximately $12,363,000.
A number of other hedge funds have also recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Reynolds Consumer Products by 1.9% during the 1st quarter. Royal Bank of Canada now owns 94,024 shares of the company’s stock worth $2,244,000 after purchasing an additional 1,720 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Reynolds Consumer Products by 11.3% in the 1st quarter. Millennium Management LLC now owns 592,459 shares of the company’s stock valued at $14,136,000 after buying an additional 60,198 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Reynolds Consumer Products by 60.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,853 shares of the company’s stock valued at $5,317,000 after buying an additional 83,633 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Reynolds Consumer Products by 488.4% in the 1st quarter. Jane Street Group LLC now owns 125,724 shares of the company’s stock valued at $3,000,000 after buying an additional 104,357 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Reynolds Consumer Products by 17.5% in the second quarter. JPMorgan Chase & Co. now owns 330,811 shares of the company’s stock valued at $7,086,000 after buying an additional 49,192 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on REYN. Canaccord Genuity Group boosted their target price on shares of Reynolds Consumer Products from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Piper Sandler upgraded shares of Reynolds Consumer Products to an “overweight” rating in a research note on Thursday, July 30th. UBS Group lifted their price objective on shares of Reynolds Consumer Products from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Barclays upped their target price on shares of Reynolds Consumer Products from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of Reynolds Consumer Products from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.60.
Reynolds Consumer Products Stock Down 2.9%
REYN stock opened at $24.56 on Wednesday. Reynolds Consumer Products Inc. has a 1-year low of $20.44 and a 1-year high of $27.32. The business’s 50 day simple moving average is $25.85 and its 200 day simple moving average is $23.45. The company has a current ratio of 1.80, a quick ratio of 0.71 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $5.18 billion, a PE ratio of 14.98 and a beta of 0.55.
Reynolds Consumer Products (NASDAQ:REYN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. Reynolds Consumer Products had a return on equity of 16.03% and a net margin of 9.11%.The business had revenue of $944.00 million during the quarter, compared to the consensus estimate of $935.46 million. During the same quarter last year, the firm posted $0.39 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. Reynolds Consumer Products has set its Q3 2026 guidance at 0.370-0.390 EPS and its FY 2026 guidance at 1.570-1.630 EPS. As a group, research analysts anticipate that Reynolds Consumer Products Inc. will post 1.59 EPS for the current year.
Reynolds Consumer Products Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.92 annualized dividend and a dividend yield of 3.7%. Reynolds Consumer Products’s payout ratio is presently 56.10%.
Reynolds Consumer Products Profile
Reynolds Consumer Products, Inc (NASDAQ: REYN) is a leading North American manufacturer and marketer of household consumer products. The company specializes in food storage and cooking solutions, including aluminum foil, plastic wrap, food storage containers and disposable tableware. Its core portfolio features well-known brands such as Reynolds Wrap aluminum foil, Hefty storage containers and trash bags, and Fastfold paper plates.
The company operates through a network of manufacturing and distribution facilities across North America, Latin America, Europe and the Asia Pacific region.
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