Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives $32.17 Consensus Price Target from Brokerages

Reynolds Consumer Products Inc. (NASDAQ:REYN) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five 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 brokers that have issued ratings on the stock in the last year is $32.17.

Separately, Barclays lowered their price objective on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st.

Insider Activity

In other news, Director Helen Golding purchased 1,190 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of $27.58 per share, with a total value of $32,820.20. Following the completion of the transaction, the director now directly owns 1,190 shares of the company’s stock, valued at approximately $32,820.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rolf Stangl purchased 3,682 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average cost of $27.50 per share, with a total value of $101,255.00. Following the transaction, the director now directly owns 10,889 shares of the company’s stock, valued at $299,447.50. This represents a 51.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 12,079 shares of company stock worth $330,466. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Reynolds Consumer Products

Several institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC bought a new stake in Reynolds Consumer Products in the 3rd quarter worth approximately $29,000. Abich Financial Wealth Management LLC bought a new stake in Reynolds Consumer Products in the 2nd quarter worth approximately $54,000. Capital Performance Advisors LLP bought a new stake in Reynolds Consumer Products in the 3rd quarter worth approximately $70,000. Venturi Wealth Management LLC grew its position in Reynolds Consumer Products by 93.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock worth $80,000 after purchasing an additional 1,239 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in Reynolds Consumer Products in the 3rd quarter worth approximately $90,000. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Down 1.5 %

NASDAQ REYN opened at $26.09 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. The stock has a market capitalization of $5.48 billion, a PE ratio of 14.91 and a beta of 0.50. Reynolds Consumer Products has a 1 year low of $25.88 and a 1 year high of $32.65. The business’s 50-day moving average is $27.40 and its 200 day moving average is $28.81.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The business had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Reynolds Consumer Products will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.53%. Reynolds Consumer Products’s payout ratio is 52.57%.

About Reynolds Consumer Products

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.