Reynolds Consumer Products (NASDAQ:REYN) Shares Gap Down – Here’s Why

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) gapped down before the market opened on Wednesday . The stock had previously closed at $27.81, but opened at $26.54. Reynolds Consumer Products shares last traded at $27.24, with a volume of 54,744 shares.

Analysts Set New Price Targets

Several research analysts have weighed in on REYN shares. Canaccord Genuity Group lowered their price target on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday. Stifel Nicolaus dropped 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. Evercore ISI dropped their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on shares of 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. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Price Performance

The stock has a market cap of $5.28 billion, a P/E ratio of 14.18 and a beta of 0.50. 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 has a 50 day simple moving average of $27.26 and a 200-day simple moving average of $28.78.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. On average, sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

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 issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 54.76%.

Insider Transactions at Reynolds Consumer Products

In related news, Director Helen Golding acquired 1,190 shares of the stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the transaction, the director now owns 1,190 shares of the company’s stock, valued at $32,820.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rolf Stangl bought 3,682 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was purchased at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the acquisition, the director now directly owns 10,889 shares of the company’s stock, valued at approximately $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 owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of REYN. True Wealth Design LLC purchased a new position in shares of Reynolds Consumer Products in the 3rd quarter worth $29,000. Blue Trust Inc. increased its stake in Reynolds Consumer Products by 115.2% in the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after acquiring an additional 698 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Reynolds Consumer Products in the 4th quarter worth $40,000. Capital Performance Advisors LLP purchased a new stake in Reynolds Consumer Products during the third quarter valued at approximately $70,000. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Reynolds Consumer Products by 21.3% in the third 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.

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.