UBS Group Issues Pessimistic Forecast for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN) had its target price lowered by UBS Group from $29.00 to $26.00 in a report published on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on REYN. Canaccord Genuity Group cut their price target on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $32.00 price target on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Stifel Nicolaus dropped their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. lowered their target price on Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Evercore ISI decreased their price objective on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.00.

Reynolds Consumer Products Stock Up 2.4 %

REYN stock opened at $23.65 on Thursday. The stock has a market capitalization of $4.97 billion, a PE ratio of 14.08 and a beta of 0.64. The company has a fifty day moving average of $23.85 and a 200-day moving average of $26.48. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. Reynolds Consumer Products has a one year low of $21.90 and a one year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data 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 return on equity of 17.14% and a net margin of 9.56%. As a group, analysts expect that Reynolds Consumer Products will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio (DPR) is 54.76%.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 6,000 shares of the stock in a transaction on Monday, February 10th. The stock was bought at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the acquisition, the director now directly owns 16,889 shares of the company’s stock, valued at $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Reynolds Consumer Products

Several hedge funds have recently modified their holdings of REYN. Allspring Global Investments Holdings LLC boosted its holdings in shares of Reynolds Consumer Products by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock valued at $351,564,000 after purchasing an additional 182,353 shares during the last quarter. Vanguard Group Inc. grew its position in Reynolds Consumer Products by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company’s stock valued at $157,704,000 after acquiring an additional 17,756 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Reynolds Consumer Products by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company’s stock worth $63,586,000 after purchasing an additional 275,601 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Reynolds Consumer Products by 13.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock valued at $32,707,000 after purchasing an additional 139,576 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Reynolds Consumer Products by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,072,422 shares of the company’s stock worth $28,953,000 after purchasing an additional 26,664 shares during the period. 26.81% of the stock is owned by institutional investors and hedge funds.

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.