Brokerages Set Reynolds Consumer Products Inc. (NASDAQ:REYN) PT at $29.80

Reynolds Consumer Products Inc. (NASDAQ:REYN) has been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $29.80.

REYN has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Stifel Nicolaus restated a “hold” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Barclays boosted their target price on shares of Reynolds Consumer Products from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 price target on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Finally, TheStreet raised shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st.

Institutional Investors Weigh In On Reynolds Consumer Products

A number of institutional investors have recently made changes to their positions in REYN. FMR LLC lifted its holdings in shares of Reynolds Consumer Products by 7.4% in the 3rd quarter. FMR LLC now owns 6,454,619 shares of the company’s stock worth $165,432,000 after acquiring an additional 442,654 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Reynolds Consumer Products during the fourth quarter worth $8,408,000. KLCM Advisors Inc. grew its stake in shares of Reynolds Consumer Products by 112.6% in the fourth quarter. KLCM Advisors Inc. now owns 522,891 shares of the company’s stock valued at $14,034,000 after buying an additional 276,898 shares in the last quarter. Norges Bank purchased a new stake in shares of Reynolds Consumer Products in the 4th quarter valued at $6,924,000. Finally, Dimensional Fund Advisors LP lifted its stake in 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 worth $31,069,000 after acquiring an additional 218,864 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Reynolds Consumer Products Stock Down 0.2 %

Shares of REYN opened at $28.57 on Monday. The firm has a market cap of $6.00 billion, a P/E ratio of 20.12 and a beta of 0.49. The stock’s 50 day moving average is $28.67 and its two-hundred day moving average is $27.47. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.92. Reynolds Consumer Products has a 12 month low of $24.80 and a 12 month high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. Analysts predict that Reynolds Consumer Products will post 1.61 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.22%. Reynolds Consumer Products’s payout ratio is currently 64.79%.

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.