Reynolds Consumer Products (NASDAQ:REYN) Sets New 12-Month Low – Here’s What Happened

Reynolds Consumer Products Inc. (NASDAQ:REYN)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $24.26 and last traded at $24.67, with a volume of 716198 shares traded. The stock had previously closed at $24.60.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on REYN. Evercore ISI lowered their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Canaccord Genuity Group lowered their target price on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 6th. 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 research note on Thursday, January 16th. Stifel Nicolaus lowered their price objective on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Finally, UBS Group dropped their target price on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Price Performance

The firm has a 50-day moving average of $27.14 and a 200-day moving average of $28.78. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 2.04. The firm has a market capitalization of $5.18 billion, a P/E ratio of 14.68 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. As a group, analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.23 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.73%. Reynolds Consumer Products’s dividend payout ratio is presently 54.76%.

Insider Activity at Reynolds Consumer Products

In other news, Director Helen Golding purchased 1,190 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was acquired 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 in the company, valued at $32,820.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rolf Stangl acquired 3,682 shares of the stock in a transaction dated Thursday, December 19th. The stock was acquired at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the purchase, the director now directly owns 10,889 shares in the company, valued at approximately $299,447.50. This trade represents a 51.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 10,872 shares of company stock worth $283,415 over the last quarter. Company insiders own 0.20% of the company’s stock.

Institutional Trading of Reynolds Consumer Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REYN. ARGA Investment Management LP bought a new position in shares of Reynolds Consumer Products in the third quarter worth about $751,000. Barclays PLC increased its holdings in Reynolds Consumer Products by 173.9% in the 3rd quarter. Barclays PLC now owns 63,121 shares of the company’s stock worth $1,963,000 after acquiring an additional 40,075 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Reynolds Consumer Products during the 3rd quarter worth approximately $4,397,000. Beacon Harbor Wealth Advisors Inc. bought a new stake in Reynolds Consumer Products during the 3rd quarter worth approximately $5,731,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Reynolds Consumer Products during the third quarter valued at approximately $851,000. 26.81% of the stock is owned by hedge funds and other institutional investors.

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.