Reynolds Consumer Products (NASDAQ:REYN) Hits New 1-Year Low – What’s Next?

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $24.26 and last traded at $24.67, with a volume of 716198 shares. The stock had previously closed at $24.60.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on REYN. UBS Group lowered their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. decreased their target price on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Evercore ISI dropped their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus reduced 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 report on Thursday, February 6th. Finally, Canaccord Genuity Group dropped 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Trading Up 0.3 %

The firm has a market cap of $5.18 billion, a P/E ratio of 14.68 and a beta of 0.50. The stock has a 50 day simple moving average of $27.14 and a 200-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.

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

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio is 54.76%.

Insider Activity at Reynolds Consumer Products

In other news, Director Rolf Stangl acquired 6,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were acquired at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the transaction, the director now directly owns 16,889 shares of the company’s stock, valued at approximately $420,367.21. The trade was a 55.10 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Helen Golding bought 1,190 shares of Reynolds Consumer Products stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the purchase, the director now owns 1,190 shares of the company’s stock, valued at approximately $32,820.20. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 10,872 shares of company stock valued at $283,415. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Reynolds Consumer Products

Several hedge funds have recently added to or reduced their stakes in REYN. Creative Planning boosted its position in shares of Reynolds Consumer Products by 6.8% during the second quarter. Creative Planning now owns 14,902 shares of the company’s stock valued at $417,000 after buying an additional 944 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Reynolds Consumer Products during the 2nd quarter worth approximately $367,000. CWM LLC boosted its holdings in Reynolds Consumer Products by 45.5% during the 3rd quarter. CWM LLC now owns 32,088 shares of the company’s stock valued at $998,000 after acquiring an additional 10,038 shares during the period. Kapitalo Investimentos Ltda purchased a new position in Reynolds Consumer Products during the 3rd quarter valued at $212,000. Finally, Allspring Global Investments Holdings LLC grew its position in Reynolds Consumer Products by 1.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,925,469 shares of the company’s stock valued at $401,982,000 after acquiring an additional 137,083 shares during the last quarter. 26.81% of the stock is currently owned by 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.