Reynolds Consumer Products (NASDAQ:REYN) Reaches New 52-Week High at $31.88

Reynolds Consumer Products Inc. (NASDAQ:REYN) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $31.88 and last traded at $31.86, with a volume of 57803 shares changing hands. The stock had previously closed at $31.48.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on REYN. Royal Bank of Canada upped their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Barclays boosted their price target on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Canaccord Genuity Group boosted their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.00.

Reynolds Consumer Products Price Performance

The firm has a market cap of $6.71 billion, a PE ratio of 20.25 and a beta of 0.48. The stock’s fifty day moving average price is $28.75 and its 200-day moving average price is $28.68. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The business had revenue of $930.00 million during the quarter, compared to analyst estimates of $890.71 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities analysts expect that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio is currently 58.60%.

Institutional Investors Weigh In On Reynolds Consumer Products

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Reynolds Consumer Products by 510.2% in the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after buying an additional 801 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Reynolds Consumer Products during the first quarter worth about $35,000. Versant Capital Management Inc acquired a new stake in shares of Reynolds Consumer Products during the second quarter worth about $39,000. Quadrant Capital Group LLC lifted its position in shares of Reynolds Consumer Products by 97.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock worth $52,000 after purchasing an additional 960 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Reynolds Consumer Products during the second quarter worth about $54,000. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Company 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.