Reynolds Consumer Products (NASDAQ:REYN) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Reynolds Consumer Products (NASDAQ:REYN) in a report published on Monday,Benzinga reports. The firm currently has a $32.00 target price on the stock.

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays reduced their target price on shares of Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, UBS Group dropped their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Reynolds Consumer Products has a consensus rating of “Hold” and an average target price of $30.86.

Reynolds Consumer Products Trading Down 4.2 %

Shares of Reynolds Consumer Products stock opened at $26.63 on Monday. 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 company has a market capitalization of $5.60 billion, a P/E ratio of 15.22 and a beta of 0.50. Reynolds Consumer Products has a 1 year low of $25.88 and a 1 year high of $32.65. The company’s fifty day moving average is $27.34 and its two-hundred day moving average is $28.83.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. Analysts forecast that Reynolds Consumer Products will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.23 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.45%. Reynolds Consumer Products’s dividend payout ratio is presently 52.57%.

Insider Activity at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 3,682 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was acquired at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the transaction, the director now directly owns 10,889 shares in the company, valued at $299,447.50. This represents a 51.09 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Helen Golding acquired 1,190 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the transaction, the director now directly owns 1,190 shares in the company, valued at approximately $32,820.20. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Reynolds Consumer Products

Several hedge funds have recently added to or reduced their stakes in REYN. Verition Fund Management LLC acquired a new stake in shares of Reynolds Consumer Products in the third quarter valued at approximately $12,844,000. Beacon Harbor Wealth Advisors Inc. acquired a new stake in Reynolds Consumer Products during the 3rd quarter valued at $5,731,000. Allspring Global Investments Holdings LLC grew its holdings 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 valued at $351,564,000 after buying an additional 182,353 shares during the last quarter. Jane Street Group LLC increased its position in Reynolds Consumer Products by 758.9% during the third quarter. Jane Street Group LLC now owns 167,722 shares of the company’s stock worth $5,216,000 after buying an additional 148,194 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Reynolds Consumer Products in the third quarter worth $4,397,000. 26.81% of the stock is currently 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.