Reynolds Consumer Products (NASDAQ:REYN) Reaches New 1-Year Low After Analyst Downgrade

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) reached a new 52-week low during trading on Thursday after Canaccord Genuity Group lowered their price target on the stock from $31.00 to $30.00. Canaccord Genuity Group currently has a hold rating on the stock. Reynolds Consumer Products traded as low as $25.88 and last traded at $25.67, with a volume of 78049 shares trading hands. The stock had previously closed at $26.63.

A number of other research analysts have also issued reports on REYN. Stifel Nicolaus decreased their target price on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday. Barclays lowered their price objective on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 target price on shares of Reynolds Consumer Products in a research report on Monday. Evercore ISI reduced their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, UBS Group dropped their price target on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Reynolds Consumer Products presently has a consensus rating of “Hold” and a consensus target price of $30.38.

Insider Transactions at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 3,682 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average price of $27.50 per share, with a total value of $101,255.00. Following the purchase, the director now directly owns 10,889 shares in the company, valued at approximately $299,447.50. This trade represents a 51.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Helen Golding bought 1,190 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was bought at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the transaction, the director now directly owns 1,190 shares of the company’s stock, 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. 0.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Reynolds Consumer Products

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in shares of Reynolds Consumer Products during the second quarter valued at about $612,000. Creative Planning raised its holdings in Reynolds Consumer Products by 6.8% in the 2nd quarter. Creative Planning now owns 14,902 shares of the company’s stock valued at $417,000 after buying an additional 944 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Reynolds Consumer Products during the 2nd quarter worth approximately $367,000. Handelsbanken Fonder AB grew its holdings in Reynolds Consumer Products by 68.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock worth $709,000 after acquiring an additional 9,300 shares during the last quarter. Finally, CWM LLC increased its position in Reynolds Consumer Products by 45.5% in the 3rd quarter. CWM LLC now owns 32,088 shares of the company’s stock valued at $998,000 after acquiring an additional 10,038 shares during the period. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

The company’s 50-day simple moving average is $27.32 and its 200-day simple moving average is $28.81. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 14.18 and a beta of 0.50. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Reynolds Consumer Products (NASDAQ:REYN) last posted 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 return on equity of 18.27% and a net margin of 10.03%. On average, analysts expect that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.71%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 52.57%.

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.