Brokerages Set Reynolds Consumer Products Inc. (NASDAQ:REYN) PT at $30.38

Reynolds Consumer Products Inc. (NASDAQ:REYN) has earned an average recommendation of “Hold” from the eight research firms that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $30.38.

A number of brokerages have issued reports on REYN. Canaccord Genuity Group cut their price objective on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 6th. UBS Group cut their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus decreased their price objective on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating on the stock in a research note 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 research note on Monday, February 3rd. Finally, Barclays decreased their price target on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th.

Insiders Place Their Bets

In other news, Director Rolf Stangl acquired 6,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was purchased at an average cost of $24.89 per share, with a total value of $149,340.00. Following 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Reynolds Consumer Products

Several institutional investors have recently modified their holdings of the business. True Wealth Design LLC bought a new position in Reynolds Consumer Products in the third quarter valued at approximately $29,000. Blue Trust Inc. grew its stake in shares of Reynolds Consumer Products by 115.2% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after purchasing an additional 698 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Reynolds Consumer Products during the fourth quarter worth $40,000. Quarry LP increased its holdings in Reynolds Consumer Products by 187.0% in the fourth quarter. Quarry LP now owns 2,531 shares of the company’s stock valued at $68,000 after purchasing an additional 1,649 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Reynolds Consumer Products in the third quarter valued at about $70,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

NASDAQ REYN opened at $24.40 on Friday. The stock has a market cap of $5.13 billion, a P/E ratio of 14.52 and a beta of 0.50. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. Reynolds Consumer Products has a twelve month low of $23.61 and a twelve month high of $32.65. The company’s 50-day simple moving average is $26.24 and its 200 day simple moving average is $28.38.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. As a group, research analysts forecast that Reynolds Consumer Products will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio is currently 54.76%.

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.