JPMorgan Chase & Co. Issues Pessimistic Forecast for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN) had its price objective reduced by JPMorgan Chase & Co. from $30.00 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Barclays cut their target price on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Reynolds Consumer Products presently has a consensus rating of “Hold” and an average price target of $31.00.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock opened at $26.84 on Thursday. Reynolds Consumer Products has a fifty-two week low of $25.88 and a fifty-two week high of $32.65. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. The stock has a market cap of $5.64 billion, a P/E ratio of 15.34 and a beta of 0.50. The firm’s fifty day moving average price is $27.36 and its 200-day moving average price is $28.78.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The firm had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities research analysts expect that Reynolds Consumer Products will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend was Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 52.57%.

Insider Buying and Selling

In other Reynolds Consumer Products news, Director Helen Golding bought 1,190 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the purchase, the director now directly owns 1,190 shares of the company’s stock, valued at $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Rolf Stangl purchased 7,207 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the acquisition, the director now owns 7,207 shares in the company, valued at $196,390.75. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 12,079 shares of company stock valued at $330,466 over the last three months. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

Hedge funds have recently made changes to their positions in the business. Park Avenue Securities LLC boosted its holdings in Reynolds Consumer Products by 8.0% in the fourth quarter. Park Avenue Securities LLC now owns 14,864 shares of the company’s stock valued at $401,000 after acquiring an additional 1,105 shares in the last quarter. Oak Thistle LLC lifted its position in shares of Reynolds Consumer Products by 66.5% in the 4th quarter. Oak Thistle LLC now owns 11,797 shares of the company’s stock worth $318,000 after purchasing an additional 4,710 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of Reynolds Consumer Products during the 4th quarter valued at about $40,000. World Investment Advisors LLC purchased a new position in shares of Reynolds Consumer Products during the third quarter valued at about $538,000. Finally, Barclays PLC raised its stake in Reynolds Consumer Products by 173.9% in the third quarter. Barclays PLC now owns 63,121 shares of the company’s stock worth $1,963,000 after buying an additional 40,075 shares in the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

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.