Reynolds Consumer Products (NASDAQ:REYN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Reynolds Consumer Products (NASDAQ:REYN) from a sell rating to a hold rating in a report released on Friday.

A number of other equities research analysts have also recently commented on REYN. Truist Financial decreased their price target on Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on 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. Stifel Nicolaus decreased their price target on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Evercore ISI decreased 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. Finally, UBS Group decreased their price target on Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus target price of $28.33.

Reynolds Consumer Products Stock Down 0.4%

NASDAQ:REYN opened at $22.19 on Friday. Reynolds Consumer Products has a 1-year low of $21.63 and a 1-year high of $32.65. The company has a 50-day moving average of $23.18 and a 200 day moving average of $25.13. The firm has a market cap of $4.67 billion, a PE ratio of 13.21 and a beta of 0.61. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The company had revenue of $801.00 million during the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. As a group, research analysts anticipate that Reynolds Consumer Products will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Friday, May 16th. Reynolds Consumer Products’s dividend payout ratio is presently 57.50%.

Insider Buying and Selling

In related news, Director Rolf Stangl acquired 2,500 shares of Reynolds Consumer Products 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 completion of the transaction, the director now owns 19,389 shares in the company, valued at $450,212.58. This represents a 14.80% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Chris Mayrhofer acquired 5,048 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, May 30th. The shares were bought at an average price of $21.99 per share, for a total transaction of $111,005.52. Following the transaction, the chief accounting officer now owns 23,266 shares of the company’s stock, valued at $511,619.34. This represents a 27.71% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 25,766 shares of company stock valued at $572,402 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Reynolds Consumer Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of Reynolds Consumer Products by 173.9% in the third quarter. Barclays PLC now owns 63,121 shares of the company’s stock valued at $1,963,000 after buying an additional 40,075 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock valued at $35,000 after buying an additional 698 shares in the last quarter. KBC Group NV acquired a new stake in shares of Reynolds Consumer Products in the fourth quarter valued at $2,903,000. Kestra Private Wealth Services LLC grew its stake in shares of Reynolds Consumer Products by 5.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company’s stock valued at $443,000 after buying an additional 814 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Reynolds Consumer Products by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after purchasing an additional 182,353 shares in the last quarter. Hedge funds and other institutional investors own 26.81% 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.