Reynolds Consumer Products (NASDAQ:REYN) Reaches New 12-Month Low - What's Next?

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on REYN. Truist Financial dropped their price target 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. Stifel Nicolaus cut their price target on shares of 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 reissued a "sector perform" rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a report on Monday, April 28th. JPMorgan Chase & Co. cut 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 report on Friday, April 11th. Finally, Canaccord Genuity Group cut their price target on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $28.33.

Reynolds Consumer Products Price Performance

The firm has a market cap of $4.44 billion, a PE ratio of 12.57 and a beta of 0.58. The stock's fifty day moving average price is $22.80 and its 200-day moving average price is $24.74. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The business had revenue of $801.00 million during the quarter, compared to analyst estimates of $821.99 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date was Friday, May 16th. Reynolds Consumer Products's dividend payout ratio is currently 57.50%.

Insider Activity at Reynolds Consumer Products

In related news, Director Rolf Stangl bought 2,500 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $23.22 per share, with a total value of $58,050.00. Following the completion of the transaction, the director now directly owns 19,389 shares of the company's stock, valued at $450,212.58. This represents a 14.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Chris Mayrhofer bought 5,048 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now directly owns 23,266 shares of the company's stock, valued at $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 bought 30,266 shares of company stock valued at $670,052. 0.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of REYN. Norges Bank acquired a new position in Reynolds Consumer Products in the fourth quarter valued at about $17,964,000. Dimensional Fund Advisors LP lifted its position in Reynolds Consumer Products by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company's stock valued at $63,586,000 after buying an additional 275,601 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Reynolds Consumer Products in the first quarter valued at about $4,522,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Reynolds Consumer Products by 141.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 314,756 shares of the company's stock worth $7,510,000 after purchasing an additional 184,359 shares in the last quarter. Finally, Ceredex Value Advisors LLC lifted its position in shares of Reynolds Consumer Products by 58.1% during the fourth 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 in the last quarter. Institutional investors and hedge funds 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.