Reynolds Consumer Products (NASDAQ:REYN) Reaches New 52-Week Low on Analyst Downgrade

Reynolds Consumer Products Inc. (NASDAQ:REYN) shares hit a new 52-week low during mid-day trading on Thursday after Barclays lowered their price target on the stock from $27.00 to $25.00. Barclays currently has an equal weight rating on the stock. Reynolds Consumer Products traded as low as $25.88 and last traded at $25.67, with a volume of 78049 shares. The stock had previously closed at $26.63.

REYN has been the topic of a number of other reports. Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 price objective on shares of Reynolds Consumer Products in a research note on Monday. JPMorgan Chase & Co. dropped their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, UBS Group reduced their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.57.

Insider Activity at Reynolds Consumer Products

In related news, Director Rolf Stangl bought 3,682 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was bought at an average cost of $27.50 per share, with a total value of $101,255.00. Following the completion of the acquisition, the director now owns 10,889 shares in the company, valued at approximately $299,447.50. This represents a 51.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Helen Golding purchased 1,190 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the acquisition, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

Institutional Trading of Reynolds Consumer Products

Institutional investors have recently bought and sold shares of the company. Verition Fund Management LLC purchased a new position in shares of Reynolds Consumer Products in the third quarter valued at $12,844,000. Beacon Harbor Wealth Advisors Inc. purchased a new position in Reynolds Consumer Products during the 3rd quarter valued at about $5,731,000. Allspring Global Investments Holdings LLC raised its position in Reynolds Consumer Products by 1.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after acquiring an additional 182,353 shares during the last quarter. Jane Street Group LLC raised 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 worth $5,216,000 after acquiring an additional 148,194 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Reynolds Consumer Products in the third quarter valued at about $4,397,000. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Reynolds Consumer Products Stock Down 3.6 %

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’s 50-day moving average price is $27.32 and its 200 day moving average price is $28.81. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 14.65 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. Sell-side analysts expect that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 yield of 3.59%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 52.57%.

Reynolds Consumer Products Company Profile

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.