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

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 annualized dividend and a dividend yield of 4.15%.

Reynolds Consumer Products has a dividend payout ratio of 55.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

REYN stock traded down $0.13 on Thursday, hitting $22.17. The company had a trading volume of 1,191,160 shares, compared to its average volume of 929,673. Reynolds Consumer Products has a 12-month low of $20.91 and a 12-month high of $32.65. The company has a current ratio of 1.80, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The stock's 50-day simple moving average is $21.84 and its 200 day simple moving average is $23.62. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 13.86 and a beta of 0.57.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued 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. 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 during the quarter, compared to the consensus estimate of $821.99 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities research analysts expect that Reynolds Consumer Products will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Rolf Stangl acquired 4,500 shares of Reynolds Consumer Products stock in a transaction dated Friday, June 20th. The shares were acquired at an average cost of $21.24 per share, for a total transaction of $95,580.00. Following the acquisition, the director owned 30,889 shares of the company's stock, valued at $656,082.36. This trade represents a 17.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Chris Mayrhofer bought 5,048 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was bought at an average cost of $21.99 per share, for a total transaction of $111,005.52. Following the completion of the transaction, the chief accounting officer directly owned 23,266 shares in the company, valued at approximately $511,619.34. The trade was a 27.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 34,766 shares of company stock worth $765,632. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in Reynolds Consumer Products by 1.9% during the first quarter. Royal Bank of Canada now owns 94,024 shares of the company's stock worth $2,244,000 after acquiring an additional 1,720 shares during the last quarter. Jane Street Group LLC raised its position in Reynolds Consumer Products by 488.4% during the first quarter. Jane Street Group LLC now owns 125,724 shares of the company's stock worth $3,000,000 after acquiring an additional 104,357 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Reynolds Consumer Products by 60.1% during the first 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 acquiring an additional 83,633 shares during the last quarter. Finally, Millennium Management LLC raised its position in Reynolds Consumer Products by 11.3% during the first quarter. Millennium Management LLC now owns 592,459 shares of the company's stock worth $14,136,000 after acquiring an additional 60,198 shares during the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on REYN shares. JPMorgan Chase & Co. lowered their price objective on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Truist Financial lowered their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. UBS Group lowered their price objective on shares of Reynolds Consumer Products from $25.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Wall Street Zen raised shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Stifel Nicolaus lowered their price objective on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $27.67.

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.

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