Reynolds Consumer Products (NASDAQ:REYN) Shares Gap Down – What’s Next?

Reynolds Consumer Products Inc. (NASDAQ:REYN)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $27.81, but opened at $26.54. Reynolds Consumer Products shares last traded at $27.24, with a volume of 54,744 shares.

Analyst Upgrades and Downgrades

REYN has been the subject of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a research report on Monday. JPMorgan Chase & Co. reduced their target price on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. UBS Group cut their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Barclays lowered their price objective on shares of Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Reynolds Consumer Products presently has a consensus rating of “Hold” and a consensus price target of $30.86.

Reynolds Consumer Products Trading Down 3.2 %

The company has a fifty day simple moving average of $27.34 and a 200-day simple moving average of $28.83. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 15.39 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. On average, research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.42%. Reynolds Consumer Products’s dividend payout ratio is 52.57%.

Insider Activity at Reynolds Consumer Products

In other news, Director Helen Golding purchased 1,190 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the acquisition, the director now directly owns 1,190 shares in the company, valued at approximately $32,820.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rolf Stangl purchased 3,682 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were acquired at an average cost of $27.50 per share, for a total transaction of $101,255.00. Following the transaction, the director now owns 10,889 shares of the company’s stock, valued at $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. 0.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in REYN. True Wealth Design LLC bought a new stake in Reynolds Consumer Products in the 3rd quarter valued at $29,000. Blue Trust Inc. boosted its stake in Reynolds Consumer Products by 115.2% in 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 period. Eagle Bay Advisors LLC bought a new stake in Reynolds Consumer Products in the 4th quarter valued at $40,000. Capital Performance Advisors LLP bought a new stake in Reynolds Consumer Products in the 3rd quarter valued at $70,000. Finally, Abich Financial Wealth Management LLC boosted its stake in Reynolds Consumer Products by 21.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock valued at $73,000 after purchasing an additional 414 shares during the period. 26.81% of the stock is currently owned by 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.