Reynolds Consumer Products (NASDAQ:REYN) Sees Strong Trading Volume - Should You Buy?

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) saw strong trading volume on Thursday . 1,028,929 shares were traded during mid-day trading, an increase of 50% from the previous session's volume of 688,053 shares.The stock last traded at $21.20 and had previously closed at $21.20.

Analysts Set New Price Targets

Several equities research analysts have issued reports on REYN shares. Stifel Nicolaus dropped their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Canaccord Genuity Group cut their target price on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. UBS Group reduced their price target on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Truist Financial decreased their price objective on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. dropped their price target 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. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $28.33.

Reynolds Consumer Products Stock Down 0.3%

The company has a market capitalization of $4.44 billion, a P/E ratio of 13.23 and a beta of 0.58. The company has a 50-day moving average of $22.48 and a two-hundred day moving average of $24.41. 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 (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $801.00 million during the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. The company's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share. On average, research analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Friday, May 16th. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 57.50%.

Insider Buying and Selling at Reynolds Consumer Products

In other news, Director Rolf Stangl acquired 4,500 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average cost of $21.24 per share, for a total transaction of $95,580.00. Following the acquisition, the director now directly owns 30,889 shares in the company, valued at approximately $656,082.36. The trade was a 17.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Chris Mayrhofer acquired 18,218 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were bought at an average cost of $22.14 per share, with a total value of $403,346.52. Following the completion of the acquisition, the chief accounting officer now directly owns 18,218 shares of the company's stock, valued at $403,346.52. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 34,766 shares of company stock worth $765,632. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

Several institutional investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. lifted its position in shares of Reynolds Consumer Products by 4.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock valued at $363,000 after buying an additional 566 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Reynolds Consumer Products by 1,493.1% during the 1st quarter. GAMMA Investing LLC now owns 20,233 shares of the company's stock valued at $483,000 after acquiring an additional 18,963 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Reynolds Consumer Products by 214.8% during the fourth quarter. Ameriprise Financial Inc. now owns 20,870 shares of the company's stock worth $563,000 after acquiring an additional 14,241 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Reynolds Consumer Products by 65.0% in the fourth quarter. Stifel Financial Corp now owns 153,845 shares of the company's stock valued at $4,152,000 after acquiring an additional 60,616 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Reynolds Consumer Products by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company's stock worth $15,976,000 after acquiring an additional 19,044 shares during the last quarter. Institutional investors own 26.81% of the company's stock.

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.

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