Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives $29.67 Average Target Price from Brokerages

Reynolds Consumer Products Inc. (NASDAQ:REYN) has earned an average rating of “Hold” from the six ratings firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $31.00.

REYN has been the topic of several analyst reports. Royal Bank of Canada increased their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday. Barclays increased their price objective on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Canaccord Genuity Group increased 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.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in REYN. KLCM Advisors Inc. grew its position in Reynolds Consumer Products by 112.6% in the fourth quarter. KLCM Advisors Inc. now owns 522,891 shares of the company’s stock valued at $14,034,000 after purchasing an additional 276,898 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Reynolds Consumer Products by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock valued at $49,859,000 after acquiring an additional 261,513 shares during the period. Norges Bank bought a new position in shares of Reynolds Consumer Products in the 4th quarter valued at about $6,924,000. Acadian Asset Management LLC grew its position in shares of Reynolds Consumer Products by 994.7% in the 1st quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock valued at $6,068,000 after acquiring an additional 193,265 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Reynolds Consumer Products by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,081,988 shares of the company’s stock valued at $373,622,000 after acquiring an additional 190,431 shares during the period. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Trading Up 0.3 %

Shares of NASDAQ REYN opened at $30.14 on Wednesday. Reynolds Consumer Products has a 1-year low of $24.80 and a 1-year high of $31.01. The company has a market cap of $6.33 billion, a PE ratio of 19.20 and a beta of 0.47. The company has a current ratio of 2.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average of $27.96 and a two-hundred day moving average of $28.33.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $930.00 million during the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. As a group, equities analysts expect that Reynolds Consumer Products will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio is 58.60%.

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.