Reynolds Consumer Products (NASDAQ:REYN) Price Target Cut to $30.00 by Analysts at Canaccord Genuity Group

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

Several other research analysts have also issued reports on REYN. JPMorgan Chase & Co. reduced 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. Evercore ISI decreased their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday. Stifel Nicolaus lowered their price target on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday. UBS Group reduced their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Barclays lowered their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Reynolds Consumer Products has an average rating of “Hold” and an average target price of $30.38.

Reynolds Consumer Products Stock Down 6.8 %

Shares of REYN opened at $24.82 on Thursday. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 14.18 and a beta of 0.50. Reynolds Consumer Products has a 52 week low of $24.79 and a 52 week high of $32.65. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. The business’s fifty day moving average price is $27.32 and its two-hundred day moving average price is $28.81.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. On average, analysts predict that Reynolds Consumer Products will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio is 52.57%.

Insider Activity

In other Reynolds Consumer Products news, Director Helen Golding purchased 1,190 shares of the firm’s stock in a transaction dated 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 purchase, the director now directly owns 1,190 shares of the company’s stock, valued at $32,820.20. The trade was 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 acquired 3,682 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $27.50 per share, for a total transaction of $101,255.00. Following the transaction, the director now owns 10,889 shares of the company’s stock, valued at $299,447.50. This represents a 51.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC acquired a new stake in shares of Reynolds Consumer Products in the 3rd quarter valued at approximately $29,000. Blue Trust Inc. raised its holdings in shares of Reynolds Consumer Products by 115.2% in 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 during the period. Eagle Bay Advisors LLC acquired a new stake in Reynolds Consumer Products in the 4th quarter valued at about $40,000. Capital Performance Advisors LLP bought a new position in Reynolds Consumer Products during the third quarter worth about $70,000. Finally, Abich Financial Wealth Management LLC grew its holdings 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 worth $73,000 after purchasing an additional 414 shares during the period. 26.81% of the stock is currently owned by 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.