Reynolds Consumer Products (NASDAQ:REYN) Sets New 12-Month Low – Should You Sell?

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) reached a new 52-week low during trading on Thursday . The company traded as low as $23.28 and last traded at $23.32, with a volume of 83508 shares. The stock had previously closed at $23.45.

Analyst Ratings Changes

Several research firms have recently weighed in on REYN. Barclays lowered their price objective on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada restated a “sector perform” rating and set a $32.00 price target on shares of Reynolds Consumer Products in a research report on Monday, February 3rd. Evercore ISI cut their price objective on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Canaccord Genuity Group decreased their price objective on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. dropped their target price on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Stock Up 0.1 %

The stock has a market cap of $4.92 billion, a P/E ratio of 13.93 and a beta of 0.56. 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 company has a 50-day simple moving average of $25.55 and a two-hundred day simple moving average of $27.90.

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

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.93%. Reynolds Consumer Products’s dividend payout ratio is presently 54.76%.

Insiders Place Their Bets

In related news, Director Rolf Stangl acquired 6,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the acquisition, the director now owns 16,889 shares of the company’s stock, valued at $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Reynolds Consumer Products

Several hedge funds and other institutional investors have recently modified their holdings of the stock. ARGA Investment Management LP bought a new stake in Reynolds Consumer Products during the 3rd quarter valued at approximately $751,000. Barclays PLC boosted its position 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 valued at $1,963,000 after purchasing an additional 40,075 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Reynolds Consumer Products in the third quarter worth $4,397,000. Dynamic Technology Lab Private Ltd bought a new position in Reynolds Consumer Products in the third quarter worth $851,000. Finally, KBC Group NV purchased a new position in Reynolds Consumer Products during the fourth quarter valued at $2,903,000. Hedge funds and other 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.