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

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $21.09 and last traded at $21.12, with a volume of 1614592 shares traded. The stock had previously closed at $21.72.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. 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. Royal Bank of Canada reiterated a "sector perform" rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Monday, April 28th. UBS Group lowered their price objective on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Canaccord Genuity Group lowered their price objective 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. Finally, 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. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $28.33.

Reynolds Consumer Products Stock Performance

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's 50-day simple moving average is $22.78 and its 200-day simple moving average is $24.68. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 12.73 and a beta of 0.58.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced 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 9.56% and a return on equity of 17.14%. The firm had revenue of $801.00 million during the quarter, compared to analysts' expectations of $821.99 million. During the same period in the prior year, the company posted $0.23 EPS. The company's revenue was down 1.8% on a year-over-year basis. On average, analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Friday, May 16th. Reynolds Consumer Products's dividend payout ratio is currently 57.50%.

Insider Activity

In other news, CAO Chris Mayrhofer acquired 18,218 shares of Reynolds Consumer Products 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 purchase, the chief accounting officer now owns 18,218 shares in the company, valued at $403,346.52. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rolf Stangl acquired 4,500 shares of Reynolds Consumer Products stock in a transaction dated Friday, June 6th. The stock was purchased at an average cost of $21.70 per share, for a total transaction of $97,650.00. Following the completion of the purchase, the director now owns 26,389 shares in the company, valued at approximately $572,641.30. The trade was a 20.56% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 30,266 shares of company stock valued at $670,052. 0.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Reynolds Consumer Products

A number of institutional investors have recently modified their holdings of REYN. Kestra Private Wealth Services LLC boosted its stake in Reynolds Consumer Products by 5.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company's stock worth $443,000 after acquiring an additional 814 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Reynolds Consumer Products by 36.0% during the fourth quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock worth $94,000 after acquiring an additional 921 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Reynolds Consumer Products by 29.5% during the fourth quarter. Global Retirement Partners LLC now owns 6,953 shares of the company's stock worth $188,000 after acquiring an additional 1,584 shares in the last quarter. Ieq Capital LLC boosted its stake in Reynolds Consumer Products by 300.6% during the fourth quarter. Ieq Capital LLC now owns 30,657 shares of the company's stock worth $827,000 after acquiring an additional 23,005 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new position in Reynolds Consumer Products during the fourth quarter worth $1,134,000. 26.81% of the stock is owned by institutional investors.

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.