Reynolds Consumer Products (NASDAQ:REYN) Hits New 52-Week High at $31.04

Reynolds Consumer Products Inc. (NASDAQ:REYN) reached a new 52-week high during trading on Tuesday . The company traded as high as $31.04 and last traded at $31.04, with a volume of 49830 shares trading hands. The stock had previously closed at $30.70.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Canaccord Genuity Group lifted their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Royal Bank of Canada lifted their price objective on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Barclays boosted their price target on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.00.

Reynolds Consumer Products Stock Down 0.0 %

The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. The firm’s 50-day simple moving average is $28.47 and its two-hundred day simple moving average is $28.57. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 19.80 and a beta of 0.47.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. The business had revenue of $930.00 million during the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. Sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.92 annualized dividend and a dividend yield of 2.96%. Reynolds Consumer Products’s dividend payout ratio is presently 58.60%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. grew its holdings in Reynolds Consumer Products by 48.6% during the 2nd quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock valued at $108,845,000 after buying an additional 1,272,353 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Reynolds Consumer Products by 122.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock valued at $43,588,000 after purchasing an additional 858,419 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Reynolds Consumer Products by 17.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock worth $49,859,000 after purchasing an additional 261,513 shares during the last quarter. Norges Bank purchased a new stake in shares of Reynolds Consumer Products during the fourth quarter worth about $6,924,000. Finally, Acadian Asset Management LLC raised its position in shares of Reynolds Consumer Products by 994.7% in the first quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock valued at $6,068,000 after buying an additional 193,265 shares during the last quarter. 26.81% of the stock is currently 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.