Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives Average Recommendation of “Hold” from Brokerages

Reynolds Consumer Products Inc. (NASDAQ:REYN) has earned an average rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $29.38.

REYN has been the subject of a number of research reports. Evercore ISI dropped their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus lowered their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday. 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. Canaccord Genuity Group lowered their price objective on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Finally, Barclays reduced their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th.

Reynolds Consumer Products Price Performance

Shares of Reynolds Consumer Products stock opened at $23.90 on Monday. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. Reynolds Consumer Products has a 52 week low of $21.90 and a 52 week high of $32.65. The stock’s 50-day simple moving average is $23.99 and its 200-day simple moving average is $26.63. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 14.23 and a beta of 0.64.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. As a group, analysts expect that Reynolds Consumer Products will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products’s payout ratio is currently 54.76%.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl purchased 6,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the acquisition, the director now owns 16,889 shares in the company, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Reynolds Consumer Products by 1,493.1% during the 1st quarter. GAMMA Investing LLC now owns 20,233 shares of the company’s stock worth $483,000 after buying an additional 18,963 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Reynolds Consumer Products by 38.1% in the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company’s stock valued at $61,000 after purchasing an additional 701 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Reynolds Consumer Products in the 4th quarter worth approximately $496,000. Mackenzie Financial Corp bought a new position in shares of Reynolds Consumer Products during the fourth quarter valued at approximately $770,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Reynolds Consumer Products by 7.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,220 shares of the company’s stock valued at $3,758,000 after buying an additional 9,457 shares during the period. 26.81% of the stock is owned by hedge funds and other institutional investors.

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.