Reynolds Consumer Products (NASDAQ:REYN) Given New $29.00 Price Target at UBS Group

Reynolds Consumer Products (NASDAQ:REYN) had its target price reduced by UBS Group from $30.00 to $29.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays reduced their price objective on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.00.

Reynolds Consumer Products Trading Up 1.1 %

NASDAQ REYN opened at $26.84 on Thursday. Reynolds Consumer Products has a one year low of $25.88 and a one year high of $32.65. 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 firm has a market cap of $5.64 billion, a P/E ratio of 15.34 and a beta of 0.50. The stock’s 50-day moving average is $27.36 and its 200-day moving average is $28.78.

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

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 15th. This represents a $0.92 annualized dividend and a yield of 3.43%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 52.57%.

Insiders Place Their Bets

In other news, Director Rolf Stangl bought 3,682 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average cost of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the acquisition, the director now owns 10,889 shares in the company, valued at approximately $299,447.50. This represents a 51.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Helen Golding purchased 1,190 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $27.58 per share, with a total value of $32,820.20. Following the purchase, the director now 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 disclosure for this purchase can be found here. Insiders have purchased 12,079 shares of company stock valued at $330,466 in the last 90 days. 0.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC acquired a new stake in shares of Reynolds Consumer Products in the third quarter valued at approximately $29,000. Eagle Bay Advisors LLC bought a new stake in Reynolds Consumer Products in the 4th quarter valued at $40,000. Abich Financial Wealth Management LLC acquired a new stake in Reynolds Consumer Products during the 2nd quarter valued at $54,000. Capital Performance Advisors LLP bought a new position in Reynolds Consumer Products during the third quarter worth $70,000. Finally, Venturi Wealth Management LLC boosted its position in Reynolds Consumer Products by 93.7% during the third 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. Institutional investors own 26.81% of the company’s stock.

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.