Bank of New York Mellon Corp Cuts Stock Position in Reynolds Consumer Products Inc. $REYN

Bank of New York Mellon Corp cut its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 1.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,172,646 shares of the company’s stock after selling 18,433 shares during the period. Bank of New York Mellon Corp owned about 0.56% of Reynolds Consumer Products worth $25,118,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of REYN. Cubist Systematic Strategies LLC acquired a new position in shares of Reynolds Consumer Products during the 1st quarter worth about $4,522,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Reynolds Consumer Products by 141.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 314,756 shares of the company’s stock valued at $7,510,000 after acquiring an additional 184,359 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Reynolds Consumer Products by 842.2% in the first quarter. Victory Capital Management Inc. now owns 183,448 shares of the company’s stock valued at $4,377,000 after acquiring an additional 163,977 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Reynolds Consumer Products by 2.7% in the first quarter. Vanguard Group Inc. now owns 6,002,580 shares of the company’s stock valued at $143,222,000 after acquiring an additional 159,522 shares in the last quarter. Finally, CX Institutional boosted its stake in shares of Reynolds Consumer Products by 121.0% in the second quarter. CX Institutional now owns 263,857 shares of the company’s stock worth $5,652,000 after acquiring an additional 144,451 shares during the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Price Performance

Shares of REYN stock opened at $24.23 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.94 and a quick ratio of 0.80. The company has a market capitalization of $5.10 billion, a PE ratio of 16.60 and a beta of 0.58. The firm’s 50-day moving average is $23.86 and its two-hundred day moving average is $22.86. Reynolds Consumer Products Inc. has a 12 month low of $20.91 and a 12 month high of $28.66.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. The business had revenue of $931.00 million during the quarter, compared to analysts’ expectations of $900.12 million. Reynolds Consumer Products had a net margin of 8.20% and a return on equity of 15.88%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. Reynolds Consumer Products has set its FY 2025 guidance at 1.400-1.440 EPS. Q4 2025 guidance at 0.520-0.560 EPS. Analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.23 dividend. The ex-dividend date is Friday, November 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.8%. Reynolds Consumer Products’s payout ratio is currently 63.01%.

Analyst Ratings Changes

REYN has been the subject of several recent research reports. UBS Group increased their price objective on Reynolds Consumer Products from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Barclays increased their target price on shares of Reynolds Consumer Products from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Royal Bank Of Canada boosted their price target on shares of Reynolds Consumer Products from $25.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Reynolds Consumer Products in a report on Friday, October 31st. Finally, Canaccord Genuity Group boosted their target price on Reynolds Consumer Products from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus price target of $26.75.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Duncan Hawkesby purchased 159,506 shares of the stock in a transaction dated Tuesday, August 26th. The stock was acquired at an average cost of $22.99 per share, for a total transaction of $3,667,042.94. Following the acquisition, the director owned 334,092 shares in the company, valued at $7,680,775.08. This trade represents a 91.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders acquired 231,092 shares of company stock valued at $5,316,902. Corporate insiders own 0.15% of the company’s stock.

About Reynolds Consumer Products

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.