Barclays Issues Pessimistic Forecast for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN) had its price objective decreased by Barclays from $28.00 to $27.00 in a research note published on Friday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

REYN has been the topic of several other reports. UBS Group cut 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 report on Thursday. JPMorgan Chase & Co. cut their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday. Six equities 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 has a consensus rating of “Hold” and a consensus price target of $30.86.

Reynolds Consumer Products Stock Up 0.9 %

Shares of Reynolds Consumer Products stock opened at $27.09 on Friday. The company has a market capitalization of $5.69 billion, a P/E ratio of 15.48 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 business has a 50-day moving average of $27.35 and a two-hundred day moving average of $28.76. 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 posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The business had revenue of $910.00 million for the quarter, compared to the consensus estimate of $902.88 million. During the same period in the previous year, the company posted $0.37 earnings per share. Reynolds Consumer Products’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities analysts predict that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.40%. Reynolds Consumer Products’s dividend payout ratio is 52.57%.

Insider Activity

In other news, 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, with a total value of $101,255.00. Following the completion of the transaction, the director now owns 10,889 shares of the company’s stock, valued at $299,447.50. The trade was a 51.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Helen Golding purchased 1,190 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $27.58 per share, with a total value of $32,820.20. Following the purchase, the director now owns 1,190 shares of the company’s stock, valued at approximately $32,820.20. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 12,079 shares of company stock worth $330,466 in the last quarter. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Reynolds Consumer Products

Several hedge funds have recently bought and sold shares of REYN. True Wealth Design LLC acquired a new position in Reynolds Consumer Products during the third quarter worth approximately $29,000. Eagle Bay Advisors LLC bought a new position in shares of Reynolds Consumer Products during the 4th quarter worth approximately $40,000. Abich Financial Wealth Management LLC bought a new position in shares of Reynolds Consumer Products during the 2nd quarter worth approximately $54,000. Capital Performance Advisors LLP bought a new stake in Reynolds Consumer Products in the 3rd quarter valued at $70,000. Finally, Venturi Wealth Management LLC lifted its holdings in Reynolds Consumer Products by 93.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock valued at $80,000 after purchasing an additional 1,239 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.