Reynolds Consumer Products Inc. (NASDAQ:REYN) Plans Quarterly Dividend of $0.23

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Investors of record on Friday, August 15th will be paid a dividend of 0.23 per share on Friday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, August 15th.

Reynolds Consumer Products has a dividend payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Reynolds Consumer Products to earn $1.74 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 52.9%.

Reynolds Consumer Products Stock Down 1.9%

Shares of NASDAQ:REYN traded down $0.41 during midday trading on Monday, reaching $21.75. 1,075,485 shares of the company were exchanged, compared to its average volume of 1,121,364. The company has a quick ratio of 0.72, a current ratio of 1.80 and a debt-to-equity ratio of 0.76. Reynolds Consumer Products has a fifty-two week low of $20.91 and a fifty-two week high of $32.65. The stock has a fifty day simple moving average of $21.78 and a two-hundred day simple moving average of $23.49. The firm has a market cap of $4.57 billion, a PE ratio of 13.59 and a beta of 0.57.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.87%. The firm had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. During the same period in the previous year, the business earned $0.23 EPS. The company's revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Reynolds Consumer Products will post 1.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on REYN. Truist Financial lowered their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Stifel Nicolaus lowered their price objective on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Royal Bank Of Canada restated a "sector perform" rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, April 28th. Finally, UBS Group reduced their target price on shares of Reynolds Consumer Products from $25.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $27.67.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, CAO Chris Mayrhofer acquired 5,048 shares of the business's stock in a transaction on Friday, May 30th. The stock was purchased at an average price of $21.99 per share, with a total value of $111,005.52. Following the acquisition, the chief accounting officer directly owned 23,266 shares of the company's stock, valued at approximately $511,619.34. This trade represents a 27.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rolf Stangl acquired 4,500 shares of the business's stock in a transaction on Friday, June 20th. The stock was acquired at an average cost of $21.24 per share, with a total value of $95,580.00. Following the acquisition, the director directly owned 30,889 shares in the company, valued at approximately $656,082.36. This trade represents a 17.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 34,766 shares of company stock valued at $765,632 in the last three months. Insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On Reynolds Consumer Products

Several hedge funds and other institutional investors have recently made changes to their positions in REYN. Millennium Management LLC increased its position in Reynolds Consumer Products by 11.3% during the 1st quarter. Millennium Management LLC now owns 592,459 shares of the company's stock worth $14,136,000 after purchasing an additional 60,198 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Reynolds Consumer Products by 60.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,853 shares of the company's stock worth $5,317,000 after purchasing an additional 83,633 shares in the last quarter. Jane Street Group LLC increased its position in Reynolds Consumer Products by 488.4% during the 1st quarter. Jane Street Group LLC now owns 125,724 shares of the company's stock worth $3,000,000 after purchasing an additional 104,357 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Reynolds Consumer Products by 1.9% during the 1st quarter. Royal Bank of Canada now owns 94,024 shares of the company's stock worth $2,244,000 after purchasing an additional 1,720 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

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.