Analysts Set Reynolds Consumer Products Inc. (NASDAQ:REYN) Target Price at $28.33

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have been given an average rating of “Hold” by the nine research firms that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $28.33.

A number of analysts have recently issued reports on the company. Canaccord Genuity Group dropped their target price on Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Royal Bank of Canada restated a “sector perform” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a report on Monday, April 28th. Truist Financial cut their target price on Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. UBS Group decreased their price target on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Finally, Evercore ISI cut their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th.

Reynolds Consumer Products Trading Up 2.3%

REYN opened at $23.20 on Friday. The firm’s 50 day moving average is $23.44 and its 200-day moving average is $25.55. Reynolds Consumer Products has a 52-week low of $21.90 and a 52-week high of $32.65. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $4.88 billion, a P/E ratio of 13.81 and a beta of 0.61.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $821.99 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. Analysts expect that Reynolds Consumer Products will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, May 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 57.50%.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl bought 2,500 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $23.22 per share, with a total value of $58,050.00. Following the completion of the acquisition, the director now owns 19,389 shares of the company’s stock, valued at approximately $450,212.58. This trade represents a 14.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of REYN. Blue Trust Inc. boosted its stake in Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock valued at $35,000 after acquiring an additional 698 shares during the period. Eagle Bay Advisors LLC acquired a new position in Reynolds Consumer Products during the 4th quarter valued at approximately $40,000. Versant Capital Management Inc grew its stake in Reynolds Consumer Products by 38.1% during the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company’s stock worth $61,000 after buying an additional 701 shares during the last quarter. Quarry LP increased its position in Reynolds Consumer Products by 187.0% in the fourth quarter. Quarry LP now owns 2,531 shares of the company’s stock worth $68,000 after buying an additional 1,649 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock worth $70,000 after buying an additional 2,248 shares during the period. 26.81% of the stock is owned by institutional investors and hedge funds.

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.