Reynolds Consumer Products (NASDAQ:REYN) Hits New 52-Week Low After Analyst Downgrade

Reynolds Consumer Products Inc. (NASDAQ:REYN) reached a new 52-week low during trading on Thursday after Canaccord Genuity Group lowered their price target on the stock from $31.00 to $30.00. Canaccord Genuity Group currently has a hold rating on the stock. Reynolds Consumer Products traded as low as $25.88 and last traded at $25.67, with a volume of 78049 shares traded. The stock had previously closed at $26.63.

A number of other research analysts have also weighed in on the stock. Barclays cut their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday. UBS Group cut their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus lowered their target price on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday. JPMorgan Chase & Co. cut their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Evercore ISI reduced their price objective on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.38.

Insider Activity at Reynolds Consumer Products

In other news, Director Helen Golding acquired 1,190 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 1,190 shares in the company, valued at approximately $32,820.20. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rolf Stangl acquired 3,682 shares of the stock in a transaction dated Thursday, December 19th. The shares were purchased at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the purchase, the director now directly owns 10,889 shares in the company, valued at $299,447.50. The trade was a 51.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company 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. Abich Financial Wealth Management LLC raised its stake in Reynolds Consumer Products by 21.3% in the third quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock valued at $73,000 after buying an additional 414 shares during the period. Covestor Ltd increased its holdings in shares of Reynolds Consumer Products by 14.8% during the 3rd quarter. Covestor Ltd now owns 4,564 shares of the company’s stock worth $142,000 after acquiring an additional 588 shares during the last quarter. MML Investors Services LLC raised its stake in Reynolds Consumer Products by 1.3% in the 3rd quarter. MML Investors Services LLC now owns 48,700 shares of the company’s stock valued at $1,515,000 after acquiring an additional 641 shares during the period. Blue Trust Inc. lifted its holdings in Reynolds Consumer Products by 115.2% during the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock valued at $35,000 after purchasing an additional 698 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in Reynolds Consumer Products by 5.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company’s stock worth $443,000 after purchasing an additional 814 shares during the period. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 14.18 and a beta of 0.50. The company’s fifty day simple moving average is $27.32 and its 200 day simple moving average is $28.81. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. On average, equities research analysts expect that Reynolds Consumer Products Inc. 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 will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, February 14th. This represents a $0.92 annualized dividend and a yield of 3.71%. Reynolds Consumer Products’s payout ratio is currently 52.57%.

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.