Reynolds Consumer Products Inc. (NASDAQ:REYN) Plans Quarterly Dividend of $0.23

Reynolds Consumer Products Inc. (NASDAQ:REYN) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.23 per share on Friday, February 28th. This represents a $0.92 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Friday, February 14th.

Reynolds Consumer Products has a dividend payout ratio of 52.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Reynolds Consumer Products to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 50.3%.

Reynolds Consumer Products Trading Up 0.3 %

NASDAQ REYN opened at $24.67 on Wednesday. Reynolds Consumer Products has a 12-month low of $24.26 and a 12-month high of $32.65. The company has a fifty day simple moving average of $27.14 and a two-hundred day simple moving average of $28.78. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. The stock has a market cap of $5.18 billion, a P/E ratio of 14.68 and a beta of 0.50.

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%. On average, analysts forecast that Reynolds Consumer Products will post 1.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on REYN. JPMorgan Chase & Co. decreased their target price on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. UBS Group decreased their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price objective on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Evercore ISI reduced their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Finally, Canaccord Genuity Group decreased their target price on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.38.

Insider Activity

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 3,682 shares of the stock in a transaction on Thursday, December 19th. The shares were bought at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the transaction, the director now owns 10,889 shares of the company’s stock, valued at $299,447.50. This trade represents a 51.09 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Helen Golding acquired 1,190 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was acquired 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 approximately $32,820.20. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 10,872 shares of company stock valued at $283,415 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

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.