Reynolds Consumer Products Inc. (REYN) to Issue Quarterly Dividend of $0.23 on February 28th

Reynolds Consumer Products Inc. (NASDAQ:REYN) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.23 per share on Friday, February 28th. This represents a $0.92 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Friday, February 14th.

Reynolds Consumer Products has a dividend payout ratio of 52.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Reynolds Consumer Products to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 50.3%.

Reynolds Consumer Products Stock Up 0.3 %

NASDAQ:REYN opened at $24.67 on Wednesday. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 14.68 and a beta of 0.50. Reynolds Consumer Products has a twelve month low of $24.26 and a twelve month high of $32.65. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $27.14 and a 200-day simple moving average of $28.78.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Analysts anticipate that Reynolds Consumer Products will post 1.66 EPS for the current year.

Analyst Upgrades and Downgrades

REYN has been the subject of a number of research reports. Evercore ISI lowered their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 target price on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Canaccord Genuity Group cut their price target on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus decreased their price objective on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.38.

Insider Buying and Selling

In other news, Director Rolf Stangl purchased 6,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were acquired at an average cost of $24.89 per share, with a total value of $149,340.00. Following the completion of the acquisition, the director now owns 16,889 shares of the company’s stock, valued at $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Helen Golding acquired 1,190 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $27.58 per share, with a total value of $32,820.20. Following the acquisition, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 10,872 shares of company stock worth $283,415 in the last three months. 0.20% of the stock is owned by insiders.

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.