Reynolds Consumer Products’ (REYN) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Reynolds Consumer Products (NASDAQ:REYN) in a research report sent to investors on Monday,Benzinga reports. They currently have a $32.00 price target on the stock.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. decreased 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 research report on Thursday, January 16th. Barclays reduced their price target on shares of Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, UBS Group dropped their target price on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.86.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock opened at $26.63 on Monday. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 15.22 and a beta of 0.50. 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 50 day simple moving average of $27.34 and a 200-day simple moving average of $28.83. Reynolds Consumer Products has a 1-year low of $25.88 and a 1-year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings data 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 return on equity of 18.27% and a net margin of 10.03%. On average, analysts expect that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The firm 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 dividend of $0.23 per share. The ex-dividend date is Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.45%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 52.57%.

Insider Buying and Selling at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Helen Golding purchased 1,190 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of $27.58 per share, with a total value of $32,820.20. Following the acquisition, the director now directly owns 1,190 shares of the company’s stock, valued at approximately $32,820.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rolf Stangl acquired 3,682 shares of the stock in a transaction dated Thursday, December 19th. The shares were acquired at an average cost of $27.50 per share, with a total value of $101,255.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

Several hedge funds have recently added to or reduced their stakes in REYN. Versor Investments LP boosted its holdings in shares of Reynolds Consumer Products by 96.7% in the 4th quarter. Versor Investments LP now owns 24,212 shares of the company’s stock valued at $653,000 after buying an additional 11,900 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Reynolds Consumer Products in the fourth quarter valued at $424,000. Bank of New York Mellon Corp boosted its stake in Reynolds Consumer Products by 13.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock valued at $32,707,000 after acquiring an additional 139,576 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Reynolds Consumer Products during the fourth quarter worth about $1,134,000. Finally, Ieq Capital LLC increased its position in shares of Reynolds Consumer Products by 300.6% during the fourth quarter. Ieq Capital LLC now owns 30,657 shares of the company’s stock worth $827,000 after purchasing an additional 23,005 shares in the last quarter. 26.81% of the stock is currently owned by hedge funds and other 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.