Reynolds Consumer Products Inc. (NASDAQ:REYN) Given Consensus Recommendation of “Hold” by Analysts

Reynolds Consumer Products Inc. (NASDAQ:REYN) has been given an average rating of “Hold” by the seven research firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $32.00.

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised 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 report on Thursday, August 8th. Barclays boosted their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. Canaccord Genuity Group raised their price objective on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada boosted their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on Reynolds Consumer Products in a research note on Thursday. They issued a “buy” rating and a $38.00 target price for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in REYN. Vanguard Group Inc. increased its position in shares of Reynolds Consumer Products by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock worth $161,739,000 after purchasing an additional 29,838 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Reynolds Consumer Products during the fourth quarter worth approximately $913,000. Acadian Asset Management LLC raised its stake 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 acquiring an additional 193,265 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Reynolds Consumer Products by 23.3% in 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. Finally, SG Americas Securities LLC bought a new stake in Reynolds Consumer Products during the 2nd quarter worth approximately $695,000. 26.81% of the stock is owned by institutional investors.

Reynolds Consumer Products Price Performance

NASDAQ REYN opened at $31.50 on Friday. The stock has a 50-day simple moving average of $28.65 and a 200 day simple moving average of $28.63. Reynolds Consumer Products has a twelve month low of $24.80 and a twelve month high of $31.82. The stock has a market capitalization of $6.62 billion, a PE ratio of 20.06 and a beta of 0.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $930.00 million during the quarter, compared to analyst estimates of $890.71 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. Research analysts anticipate that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 16th. This represents a $0.92 annualized dividend and a yield of 2.92%. Reynolds Consumer Products’s dividend payout ratio is currently 58.60%.

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.