Stifel Nicolaus Cuts Reynolds Consumer Products (NASDAQ:REYN) Price Target to $27.00

Reynolds Consumer Products (NASDAQ:REYN) had its price target lowered by Stifel Nicolaus from $31.00 to $27.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other research analysts have also recently weighed in on the company. UBS Group lowered their price objective on 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. Evercore ISI lowered their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective 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, January 16th. Royal Bank of Canada restated a “sector perform” rating and set a $32.00 target price on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Finally, Barclays dropped their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Reynolds Consumer Products currently has a consensus rating of “Hold” and a consensus price target of $29.38.

Reynolds Consumer Products Price Performance

NASDAQ REYN opened at $23.90 on Thursday. The company has a 50-day moving average price of $23.99 and a 200-day moving average price of $26.66. Reynolds Consumer Products has a 52 week low of $21.90 and a 52 week high of $32.65. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $5.03 billion, a P/E ratio of 14.23 and a beta of 0.64.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Equities research analysts anticipate that Reynolds Consumer Products will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.23 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.85%. Reynolds Consumer Products’s dividend payout ratio is currently 54.76%.

Insider Buying and Selling at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl acquired 6,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $24.89 per share, with a total value of $149,340.00. Following the purchase, the director now directly owns 16,889 shares of the company’s stock, valued at approximately $420,367.21. This represents a 55.10 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in REYN. Norges Bank purchased a new stake in Reynolds Consumer Products during the fourth quarter valued at approximately $17,964,000. Dimensional Fund Advisors LP raised its holdings in Reynolds Consumer Products by 13.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company’s stock valued at $63,586,000 after buying an additional 275,601 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Reynolds Consumer Products by 1.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after buying an additional 182,353 shares during the last quarter. Ceredex Value Advisors LLC boosted its stake in Reynolds Consumer Products by 58.1% during the fourth quarter. Ceredex Value Advisors LLC now owns 468,360 shares of the company’s stock worth $12,641,000 after buying an additional 172,136 shares during the period. Finally, Jane Street Group LLC increased its position in Reynolds Consumer Products by 758.9% during the third quarter. Jane Street Group LLC now owns 167,722 shares of the company’s stock valued at $5,216,000 after acquiring an additional 148,194 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

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.