Brokerages Set Reynolds Consumer Products Inc. (NASDAQ:REYN) Price Target at $30.86

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have been given a consensus recommendation of “Hold” by the seven research firms that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $30.86.

Several brokerages have commented on REYN. Barclays dropped their target price on shares of Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. dropped their price objective on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 target price on shares of Reynolds Consumer Products in a report on Monday. Finally, UBS Group cut their price target on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th.

Insider Activity at Reynolds Consumer Products

In other news, Director Helen Golding bought 1,190 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the purchase, the director now owns 1,190 shares of the company’s stock, valued at $32,820.20. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rolf Stangl purchased 3,682 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were purchased at an average cost of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the transaction, the director now directly owns 10,889 shares of the company’s stock, 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 owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of REYN. True Wealth Design LLC acquired a new stake in Reynolds Consumer Products in the 3rd quarter valued at about $29,000. Blue Trust Inc. lifted its position 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 buying an additional 698 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Reynolds Consumer Products during the 4th quarter worth approximately $40,000. Capital Performance Advisors LLP acquired a new position in shares of Reynolds Consumer Products during the 3rd quarter worth approximately $70,000. Finally, Abich Financial Wealth Management LLC raised its stake in Reynolds Consumer Products by 21.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock valued at $73,000 after acquiring an additional 414 shares during the period. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Reynolds Consumer Products Trading Down 1.1 %

NASDAQ REYN opened at $27.81 on Wednesday. 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 stock’s 50-day moving average is $27.34 and its 200-day moving average is $28.82. Reynolds Consumer Products has a one year low of $25.88 and a one year high of $32.65. The firm has a market cap of $5.84 billion, a P/E ratio of 15.89 and a beta of 0.50.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, February 14th. Reynolds Consumer Products’s payout ratio 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.