Reynolds Consumer Products (NASDAQ:REYN) Shares Gap Down – Here’s What Happened

Reynolds Consumer Products Inc. (NASDAQ:REYN) shares gapped down before the market opened on Wednesday . The stock had previously closed at $27.81, but opened at $26.54. Reynolds Consumer Products shares last traded at $27.24, with a volume of 54,744 shares trading hands.

Analyst Ratings Changes

REYN has been the topic of a number of analyst reports. Barclays lowered their target price on shares of Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. UBS Group decreased their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. decreased their price target on shares of 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a research note on Monday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.86.

Reynolds Consumer Products Price Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. The firm has a market capitalization of $5.66 billion, a P/E ratio of 15.39 and a beta of 0.50. The stock’s 50 day simple moving average is $27.34 and its 200 day simple moving average is $28.83.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. As a group, analysts expect that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.42%. Reynolds Consumer Products’s payout ratio is 52.57%.

Insiders Place Their Bets

In other news, Director Helen Golding purchased 1,190 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the transaction, the director now owns 1,190 shares in the company, valued at $32,820.20. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Rolf Stangl purchased 3,682 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the purchase, the director now owns 10,889 shares of the company’s stock, valued at approximately $299,447.50. This represents a 51.09 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of institutional investors have recently bought and sold shares of the company. Abich Financial Wealth Management LLC increased its position in shares of Reynolds Consumer Products by 21.3% during the third quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock valued at $73,000 after acquiring an additional 414 shares during the last quarter. Covestor Ltd grew its holdings in shares of Reynolds Consumer Products by 14.8% in the third quarter. Covestor Ltd now owns 4,564 shares of the company’s stock valued at $142,000 after purchasing an additional 588 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of Reynolds Consumer Products by 1.3% in the third quarter. MML Investors Services LLC now owns 48,700 shares of the company’s stock valued at $1,515,000 after purchasing an additional 641 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock valued at $35,000 after purchasing an additional 698 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of Reynolds Consumer Products by 5.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company’s stock valued at $443,000 after purchasing an additional 814 shares in the last quarter. 26.81% of the stock is owned by hedge funds and other 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.