Brokerages Set Reynolds Consumer Products Inc. (NASDAQ:REYN) PT at $30.00

Reynolds Consumer Products Inc. (NASDAQ:REYN) has been given a consensus recommendation of “Hold” by the six research firms that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $30.00.

A number of research analysts have recently weighed in on REYN shares. Barclays raised their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Stifel Nicolaus reaffirmed a “hold” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Finally, Canaccord Genuity Group raised their price target on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, May 9th.

Reynolds Consumer Products Trading Up 0.2 %

NASDAQ:REYN opened at $28.50 on Tuesday. The stock has a fifty day moving average price of $28.49 and a two-hundred day moving average price of $28.09. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 18.15 and a beta of 0.48. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 2.11. Reynolds Consumer Products has a 1 year low of $24.80 and a 1 year high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The firm had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $814.92 million. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. Reynolds Consumer Products’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share. As a group, sell-side analysts anticipate that Reynolds Consumer Products will post 1.67 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.23%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 58.60%.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Reynolds Consumer Products by 1.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,081,988 shares of the company’s stock valued at $373,622,000 after buying an additional 190,431 shares during the period. FMR LLC raised its holdings in shares of Reynolds Consumer Products by 7.4% during the 3rd quarter. FMR LLC now owns 6,454,619 shares of the company’s stock valued at $165,432,000 after buying an additional 442,654 shares during the period. Vanguard Group Inc. raised its holdings in shares of Reynolds Consumer Products by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock valued at $161,739,000 after buying an additional 29,838 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 valued at $31,069,000 after buying an additional 218,864 shares during the period. Finally, TD Asset Management Inc raised its holdings in shares of Reynolds Consumer Products by 4.6% during the 4th quarter. TD Asset Management Inc now owns 560,200 shares of the company’s stock valued at $15,036,000 after buying an additional 24,800 shares during the period. 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.