Reynolds Consumer Products (NASDAQ:REYN) Hits New 1-Year Low - Here's Why

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $21.63 and last traded at $21.74, with a volume of 83149 shares traded. The stock had previously closed at $22.14.

Analyst Ratings Changes

REYN has been the topic of a number of recent research reports. Evercore ISI cut their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Canaccord Genuity Group dropped their price target on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus lowered their target price 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. Barclays cut their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Reynolds Consumer Products presently has a consensus rating of "Hold" and an average target price of $28.33.

Reynolds Consumer Products Trading Up 0.4%

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 firm's 50-day moving average is $23.29 and its 200 day moving average is $25.29. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 13.15 and a beta of 0.61.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, hitting analysts' consensus estimates of $0.23. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The company 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 firm earned $0.23 earnings per share. The firm's quarterly revenue was down 1.8% on a year-over-year basis. On average, equities analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 4.17%. Reynolds Consumer Products's dividend payout ratio (DPR) is currently 57.50%.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl bought 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $23.22 per share, for a total transaction of $58,050.00. Following the transaction, the director now directly owns 19,389 shares in the company, valued at approximately $450,212.58. This trade represents a 14.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its position in shares of Reynolds Consumer Products by 173.9% during the 3rd quarter. Barclays PLC now owns 63,121 shares of the company's stock valued at $1,963,000 after acquiring an additional 40,075 shares during the period. Blue Trust Inc. boosted its position in shares of Reynolds Consumer Products by 115.2% during the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after purchasing an additional 698 shares in the last quarter. KBC Group NV acquired a new stake in shares of Reynolds Consumer Products in the 4th quarter valued at about $2,903,000. Kestra Private Wealth Services LLC increased its position in Reynolds Consumer Products by 5.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company's stock valued at $443,000 after buying an additional 814 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Reynolds Consumer Products by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company's stock worth $351,564,000 after buying an additional 182,353 shares during the period. 26.81% of the stock is currently 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.