Reynolds Consumer Products (NASDAQ:REYN) Given Sector Perform Rating at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Reynolds Consumer Products (NASDAQ:REYN) in a research note released on Monday morning,Benzinga reports. Royal Bank of Canada currently has a $32.00 price objective on the stock.

A number of other research analysts have also issued reports on the stock. UBS Group reduced 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 research note on Thursday, January 16th. Barclays cut their target price on 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, JPMorgan Chase & Co. decreased their price target 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. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.86.

Reynolds Consumer Products Price Performance

Shares of NASDAQ REYN opened at $28.11 on Monday. 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 market capitalization of $5.91 billion, a PE ratio of 16.06 and a beta of 0.50. Reynolds Consumer Products has a 1-year low of $25.88 and a 1-year high of $32.65. The business’s fifty day moving average price is $27.33 and its two-hundred day moving average price is $28.81.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.92 annualized dividend and a yield of 3.27%. Reynolds Consumer Products’s dividend payout ratio is currently 52.57%.

Insiders Place Their Bets

In related news, Director Helen Golding purchased 1,190 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were bought at an average price 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 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 is available through the SEC website. Also, Director Rolf Stangl acquired 3,682 shares of Reynolds Consumer Products stock in a transaction dated Thursday, December 19th. The shares were bought at an average cost of $27.50 per share, with a total value of $101,255.00. Following the completion of the purchase, the director now owns 10,889 shares in the company, valued at approximately $299,447.50. This 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 owned by company insiders.

Institutional Trading of Reynolds Consumer Products

A number of hedge funds have recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of Reynolds Consumer Products in the 3rd quarter valued at approximately $29,000. Blue Trust Inc. lifted its holdings in shares of Reynolds Consumer Products by 115.2% in the fourth 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. Eagle Bay Advisors LLC acquired a new stake in shares of Reynolds Consumer Products in the fourth quarter worth $40,000. Capital Performance Advisors LLP purchased a new position in shares of Reynolds Consumer Products during the third quarter valued at $70,000. Finally, Abich Financial Wealth Management LLC raised its position in 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 valued at $73,000 after buying an additional 414 shares during the period. 26.81% of the stock is owned by hedge funds and other institutional investors.

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.