Reynolds Consumer Products (NASDAQ:REYN) Hits New 52-Week Low – Here’s What Happened

Reynolds Consumer Products Inc. (NASDAQ:REYN) hit a new 52-week low on Thursday . The company traded as low as $23.28 and last traded at $23.32, with a volume of 83508 shares changing hands. The stock had previously closed at $23.45.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on REYN. UBS Group dropped their price target on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Evercore ISI cut their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Canaccord Genuity Group reduced their price target on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Barclays dropped their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $32.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Stock Performance

The business’s fifty day moving average price is $25.55 and its 200-day moving average price is $27.90. The stock has a market cap of $4.92 billion, a PE ratio of 13.93 and a beta of 0.56. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. As a group, equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 54.76%.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl acquired 6,000 shares of the stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the purchase, the director now directly owns 16,889 shares of the company’s stock, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Reynolds Consumer Products

Several large investors have recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Reynolds Consumer Products during the third quarter worth about $29,000. Blue Trust Inc. raised its position in shares of Reynolds Consumer Products by 115.2% during the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after purchasing an additional 698 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of Reynolds Consumer Products during the fourth quarter worth approximately $40,000. Quarry LP increased its holdings in Reynolds Consumer Products by 187.0% in the 4th quarter. Quarry LP now owns 2,531 shares of the company’s stock worth $68,000 after purchasing an additional 1,649 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock valued at $70,000 after purchasing an additional 2,248 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

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.