Brokerages Set Reynolds Consumer Products Inc. (NASDAQ:REYN) Price Target at $28.33

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) have received a consensus rating of "Hold" from the nine analysts that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $28.33.

A number of research firms have recently weighed in on REYN. Evercore ISI reduced their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus dropped their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Royal Bank of Canada restated a "sector perform" rating and set a $30.00 price target on shares of Reynolds Consumer Products in a report on Monday, April 28th. JPMorgan Chase & Co. reduced their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, UBS Group dropped their price target on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st.

Insider Activity

In other news, Director Rolf Stangl bought 2,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average price of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the transaction, the director now directly owns 19,389 shares in the company, valued at approximately $450,212.58. This represents a 14.80 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.15% of the company's stock.

Institutional Trading of Reynolds Consumer Products

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in Reynolds Consumer Products during the fourth quarter valued at $17,964,000. Dimensional Fund Advisors LP raised its position in Reynolds Consumer Products by 13.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company's stock valued at $63,586,000 after acquiring an additional 275,601 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Reynolds Consumer Products by 1.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company's stock valued at $351,564,000 after acquiring an additional 182,353 shares during the period. Ceredex Value Advisors LLC raised its holdings in Reynolds Consumer Products by 58.1% in the 4th quarter. Ceredex Value Advisors LLC now owns 468,360 shares of the company's stock worth $12,641,000 after purchasing an additional 172,136 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Reynolds Consumer Products by 842.2% during the first quarter. Victory Capital Management Inc. now owns 183,448 shares of the company's stock worth $4,377,000 after purchasing an additional 163,977 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Reynolds Consumer Products Stock Performance

NASDAQ REYN traded down $0.06 on Friday, hitting $23.10. 891,676 shares of the company traded hands, compared to its average volume of 620,728. The business's 50 day moving average price is $23.52 and its 200-day moving average price is $25.71. Reynolds Consumer Products has a 52-week low of $21.90 and a 52-week high of $32.65. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 13.75 and a beta of 0.61.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.23. The company had revenue of $801.00 million during the quarter, compared to the consensus estimate of $821.99 million. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The firm's revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. Equities analysts expect that Reynolds Consumer Products will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.98%. Reynolds Consumer Products's dividend payout ratio is currently 57.50%.

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.