Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives $32.17 Average PT from Analysts

Reynolds Consumer Products Inc. (NASDAQ:REYN) has been given a consensus recommendation of “Hold” by the six analysts that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.17.

A number of brokerages have commented on REYN. Jefferies Financial Group began coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They set a “buy” rating and a $38.00 target price on the stock. Barclays decreased their price objective on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st.

Reynolds Consumer Products Trading Up 0.9 %

Shares of REYN stock opened at $28.42 on Tuesday. The stock has a market cap of $5.97 billion, a P/E ratio of 16.24 and a beta of 0.50. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. Reynolds Consumer Products has a fifty-two week low of $26.26 and a fifty-two week high of $32.65. The business has a fifty day simple moving average of $28.43 and a 200-day simple moving average of $29.00.

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

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.23 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.92 annualized dividend and a yield of 3.24%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 52.57%.

Insiders Place Their Bets

In related news, Director Helen Golding acquired 1,190 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $27.58 per share, with a total value of $32,820.20. Following the purchase, the director now directly owns 1,190 shares in the company, valued at $32,820.20. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rolf Stangl acquired 7,207 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were bought at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the acquisition, the director now owns 7,207 shares in the company, valued at approximately $196,390.75. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Reynolds Consumer Products

A number of institutional investors have recently bought and sold shares of REYN. SG Americas Securities LLC acquired a new position in shares of Reynolds Consumer Products in the 2nd quarter valued at $695,000. Sei Investments Co. raised its position in shares of Reynolds Consumer Products by 18.5% in the 2nd quarter. Sei Investments Co. now owns 612,775 shares of the company’s stock worth $17,146,000 after buying an additional 95,469 shares during the period. ARGA Investment Management LP acquired a new position in Reynolds Consumer Products in the third quarter valued at $751,000. Bank of New York Mellon Corp grew its position in Reynolds Consumer Products by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company’s stock valued at $28,166,000 after acquiring an additional 66,826 shares during the period. Finally, Pacer Advisors Inc. grew its position in Reynolds Consumer Products by 48.6% during the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock valued at $108,845,000 after acquiring an additional 1,272,353 shares during the period. 26.81% of the stock is currently 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.