Reynolds Consumer Products (NASDAQ:REYN) Price Target Cut to $29.00 by Analysts at UBS Group

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

Other equities research analysts also recently issued research reports about the company. Barclays reduced their price target on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. reduced their target price on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.00.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ REYN opened at $26.84 on Thursday. 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 price-to-earnings ratio of 15.34 and a beta of 0.50. The stock’s fifty day moving average price is $27.36 and its two-hundred day moving average price is $28.78. Reynolds Consumer Products has a one year low of $25.88 and a one year high of $32.65.

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

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.43%. Reynolds Consumer Products’s payout ratio is 52.57%.

Insider Buying and Selling

In related news, Director Rolf Stangl bought 3,682 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were purchased at an average price of $27.50 per share, with a total value of $101,255.00. Following the completion of the purchase, the director now owns 10,889 shares in the company, valued at $299,447.50. This represents a 51.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Helen Golding purchased 1,190 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director now directly owns 1,190 shares in the company, valued at $32,820.20. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 12,079 shares of company stock worth $330,466 in the last ninety days. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of institutional investors and hedge funds have recently bought and sold shares of REYN. Park Avenue Securities LLC grew its holdings in shares of Reynolds Consumer Products by 8.0% during the fourth quarter. Park Avenue Securities LLC now owns 14,864 shares of the company’s stock worth $401,000 after purchasing an additional 1,105 shares during the last quarter. Oak Thistle LLC boosted its position in Reynolds Consumer Products by 66.5% during the 4th quarter. Oak Thistle LLC now owns 11,797 shares of the company’s stock worth $318,000 after buying an additional 4,710 shares during the period. Eagle Bay Advisors LLC acquired a new position in Reynolds Consumer Products in the 4th quarter valued at approximately $40,000. World Investment Advisors LLC bought a new position in shares of Reynolds Consumer Products during the third quarter valued at $538,000. Finally, Barclays PLC lifted its holdings in shares of Reynolds Consumer Products by 173.9% during the third quarter. Barclays PLC now owns 63,121 shares of the company’s stock worth $1,963,000 after purchasing an additional 40,075 shares during the period. Institutional investors and hedge funds 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.