UBS Group Cuts Reynolds Consumer Products (NASDAQ:REYN) Price Target to $29.00

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

Several other brokerages have also commented on REYN. 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. JPMorgan Chase & Co. reduced their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.86.

Reynolds Consumer Products Trading Up 0.9 %

Shares of REYN stock opened at $27.09 on Thursday. The business has a 50-day moving average of $27.34 and a 200 day moving average of $28.76. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. Reynolds Consumer Products has a 1-year low of $25.88 and a 1-year high of $32.65. The stock has a market capitalization of $5.69 billion, a PE ratio of 15.48 and a beta of 0.50.

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

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Friday, November 15th. Reynolds Consumer Products’s payout ratio is 52.57%.

Insider Activity

In related news, Director Helen Golding acquired 1,190 shares of Reynolds Consumer Products stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the purchase, the director now directly owns 1,190 shares of the company’s stock, valued at approximately $32,820.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rolf Stangl acquired 7,207 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the purchase, the director now directly owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 12,079 shares of company stock worth $330,466 over the last 90 days. 0.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Reynolds Consumer Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REYN. True Wealth Design LLC purchased a new position in Reynolds Consumer Products during the third quarter valued at approximately $29,000. Eagle Bay Advisors LLC purchased a new position in shares of Reynolds Consumer Products during the 4th quarter valued at $40,000. Abich Financial Wealth Management LLC bought a new position in Reynolds Consumer Products in the 2nd quarter worth $54,000. Capital Performance Advisors LLP purchased a new stake in Reynolds Consumer Products in the 3rd quarter worth $70,000. Finally, Venturi Wealth Management LLC raised its holdings 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 valued at $80,000 after acquiring an additional 1,239 shares during the period. 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.