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

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have been assigned a consensus rating of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. Five 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 analysts that have covered the stock in the last year is $32.17.

A number of research firms recently commented on REYN. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target on the stock. Canaccord Genuity Group upped their price target on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Barclays decreased their price objective on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada upped their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th.

Reynolds Consumer Products Stock Up 0.4 %

REYN stock opened at $27.57 on Friday. The stock has a market cap of $5.79 billion, a P/E ratio of 15.75 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. The stock’s fifty day simple moving average is $29.61 and its two-hundred day simple moving average is $29.13. Reynolds Consumer Products has a 1-year low of $25.80 and a 1-year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The company had revenue of $910.00 million during the quarter, compared to analysts’ expectations of $902.88 million. During the same period last year, the firm posted $0.37 earnings per share. Reynolds Consumer Products’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts expect that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.23 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.34%. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 52.57%.

Insider Buying and Selling

In related news, Director Rolf Stangl acquired 7,207 shares of the stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the transaction, the director now owns 7,207 shares in the company, valued at $196,390.75. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Helen Golding bought 1,190 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 1,190 shares of the company’s stock, valued at $32,820.20. This represents a ? increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. lifted its position in Reynolds Consumer Products by 48.6% in the 2nd quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock worth $108,845,000 after buying an additional 1,272,353 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Reynolds Consumer Products by 122.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock worth $43,588,000 after acquiring an additional 858,419 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Reynolds Consumer Products in the 3rd quarter worth approximately $12,844,000. Dimensional Fund Advisors LP boosted its stake in shares of Reynolds Consumer Products by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock valued at $49,859,000 after purchasing an additional 261,513 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Reynolds Consumer Products by 994.7% during the 1st quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock valued at $6,068,000 after purchasing an additional 193,265 shares during the last quarter. 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.