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

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have earned a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $28.33.

Several research analysts have recently commented on the company. Evercore ISI reduced their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Canaccord Genuity Group decreased their target price on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. dropped their price target on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. 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. Finally, Barclays lowered their price objective on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th.

Insiders Place Their Bets

In other news, Director Rolf Stangl acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average price of $23.22 per share, for a total transaction of $58,050.00. Following the acquisition, the director now owns 19,389 shares of the company’s stock, valued at $450,212.58. This represents a 14.80 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Reynolds Consumer Products by 115.2% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after purchasing an additional 698 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Reynolds Consumer Products during the 4th quarter worth approximately $40,000. Quarry LP lifted its holdings in Reynolds Consumer Products by 187.0% during the 4th quarter. Quarry LP now owns 2,531 shares of the company’s stock worth $68,000 after buying an additional 1,649 shares in the last quarter. Versant Capital Management Inc boosted its position in 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 buying an additional 701 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock worth $70,000 after acquiring an additional 2,248 shares in the last quarter. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Reynolds Consumer Products Stock Up 1.3 %

REYN stock opened at $23.14 on Friday. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average of $23.53 and a two-hundred day moving average of $25.79. Reynolds Consumer Products has a 12 month low of $21.90 and a 12 month high of $32.65. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 13.77 and a beta of 0.61.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The firm had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $821.99 million. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share. As a group, analysts forecast that Reynolds Consumer Products will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

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 given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Friday, May 16th. Reynolds Consumer Products’s payout ratio is 57.50%.

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.