OMERS ADMINISTRATION Corp Buys New Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

OMERS ADMINISTRATION Corp bought a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,800 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Millennium Management LLC boosted its position in Reynolds Consumer Products by 30.7% in the fourth quarter. Millennium Management LLC now owns 532,261 shares of the company’s stock valued at $14,366,000 after buying an additional 125,144 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Reynolds Consumer Products by 38.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 130,397 shares of the company’s stock valued at $3,519,000 after buying an additional 35,951 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Reynolds Consumer Products in the fourth quarter valued at about $496,000. Clark Capital Management Group Inc. boosted its position in Reynolds Consumer Products by 13.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 183,812 shares of the company’s stock valued at $4,961,000 after buying an additional 21,885 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Reynolds Consumer Products by 35.8% in the fourth quarter. Deutsche Bank AG now owns 7,247 shares of the company’s stock valued at $196,000 after buying an additional 1,910 shares in the last quarter. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Trading Down 0.1%

Shares of NASDAQ REYN opened at $23.10 on Wednesday. The company’s 50 day simple moving average is $23.41 and its 200 day simple moving average is $25.44. Reynolds Consumer Products Inc. has a fifty-two week low of $21.90 and a fifty-two week high of $32.65. The firm has a market capitalization of $4.86 billion, a P/E ratio of 13.75 and a beta of 0.61. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The business had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. During the same period in the prior year, the business posted $0.23 earnings per share. Reynolds Consumer Products’s revenue was down 1.8% compared to the same quarter last year. On average, analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.92 annualized dividend and a yield of 3.98%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 57.50%.

Insiders Place Their Bets

In related news, Director Rolf Stangl acquired 2,500 shares of the stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $23.22 per share, with a total value of $58,050.00. Following the completion of the transaction, the director now directly owns 19,389 shares of the company’s stock, valued at approximately $450,212.58. The trade was a 14.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on REYN shares. UBS Group reduced their price target on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Stifel Nicolaus reduced their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Finally, Evercore ISI reduced their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Reynolds Consumer Products has a consensus rating of “Hold” and a consensus target price of $28.33.

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.