Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives Average Rating of “Hold” from Analysts

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have earned a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $32.00.

Several brokerages have recently weighed in on REYN. Barclays upped their price objective on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Canaccord Genuity Group upped their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th.

Institutional Trading of Reynolds Consumer Products

Several large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Reynolds Consumer Products by 10.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 536,320 shares of the company’s stock worth $14,395,000 after buying an additional 50,425 shares during the period. Dimensional Fund Advisors LP boosted its position in Reynolds Consumer Products by 23.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock worth $31,069,000 after acquiring an additional 218,864 shares during the period. Norges Bank acquired a new position in shares of Reynolds Consumer Products in the 4th quarter valued at about $6,924,000. Parallel Advisors LLC increased its stake in Reynolds Consumer Products by 26.9% in the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after buying an additional 485 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of Reynolds Consumer Products by 4.6% in the fourth quarter. TD Asset Management Inc now owns 560,200 shares of the company’s stock worth $15,036,000 after acquiring an additional 24,800 shares during the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Reynolds Consumer Products Stock Performance

Shares of REYN opened at $30.72 on Thursday. Reynolds Consumer Products has a 52-week low of $24.80 and a 52-week high of $32.65. The firm has a market capitalization of $6.46 billion, a PE ratio of 19.57 and a beta of 0.48. The firm has a 50-day moving average price of $30.09 and a 200 day moving average price of $28.94. The company has a quick ratio of 1.01, a current ratio of 2.13 and a debt-to-equity ratio of 0.87.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The business had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $890.71 million. During the same period last year, the firm posted $0.32 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts anticipate that Reynolds Consumer Products will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 58.60%.

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.