Reynolds Consumer Products (NASDAQ:REYN) Given New $30.00 Price Target at Canaccord Genuity Group

Reynolds Consumer Products (NASDAQ:REYN) had its price objective decreased by Canaccord Genuity Group from $31.00 to $30.00 in a report released on Thursday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. 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 note on Thursday. Stifel Nicolaus cut their target price on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday. Evercore ISI decreased their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $32.00 price objective on shares of Reynolds Consumer Products in a report on Monday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Trading Down 6.8 %

Shares of REYN stock opened at $24.82 on Thursday. Reynolds Consumer Products has a 12 month low of $24.79 and a 12 month high of $32.65. The company has a market cap of $5.22 billion, a PE ratio of 14.18 and a beta of 0.50. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average is $27.32 and its two-hundred day moving average is $28.81.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. Equities analysts predict 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. Stockholders of record on Friday, February 14th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, February 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.71%. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 52.57%.

Insider Activity at Reynolds Consumer Products

In related news, Director Helen Golding acquired 1,190 shares of the business’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 completion of the acquisition, the director now owns 1,190 shares in the company, valued at $32,820.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rolf Stangl bought 3,682 shares of the stock in a transaction dated Thursday, December 19th. The stock was purchased at an average cost of $27.50 per share, for a total transaction of $101,255.00. Following the acquisition, the director now owns 10,889 shares in the company, valued at $299,447.50. The trade was 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 insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in REYN. Abich Financial Wealth Management LLC increased its holdings in shares of Reynolds Consumer Products by 21.3% during the third quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock worth $73,000 after buying an additional 414 shares in the last quarter. Covestor Ltd grew its position in Reynolds Consumer Products by 14.8% during the 3rd quarter. Covestor Ltd now owns 4,564 shares of the company’s stock worth $142,000 after acquiring an additional 588 shares during the last quarter. MML Investors Services LLC grew its position in Reynolds Consumer Products by 1.3% during the 3rd quarter. MML Investors Services LLC now owns 48,700 shares of the company’s stock worth $1,515,000 after acquiring an additional 641 shares during the last quarter. Blue Trust Inc. increased its holdings in Reynolds Consumer Products by 115.2% during 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 in the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in Reynolds Consumer Products by 5.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company’s stock valued at $443,000 after purchasing an additional 814 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

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.