Reynolds Consumer Products (NASDAQ:REYN) Sets New 12-Month Low - Here's Why

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) shares reached a new 52-week low on Tuesday . The company traded as low as $21.49 and last traded at $21.67, with a volume of 19923 shares changing hands. The stock had previously closed at $21.90.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on REYN shares. Canaccord Genuity Group dropped their price target on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. dropped their price target on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Truist Financial dropped their price target on 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 lowered their price objective 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. Finally, 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. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $28.33.

Reynolds Consumer Products Stock Up 0.5%

The stock has a market cap of $4.63 billion, a P/E ratio of 13.11 and a beta of 0.61. 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 has a 50-day simple moving average of $23.11 and a two-hundred day simple moving average of $25.07.

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 the consensus estimate of $0.23. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. Reynolds Consumer Products's quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. Equities research analysts expect that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Friday, May 16th. Reynolds Consumer Products's dividend payout ratio (DPR) is currently 57.50%.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl bought 2,500 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the transaction, the director now owns 19,389 shares of the company's stock, valued at $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 SEC, which is available at this link. Also, CAO Chris Mayrhofer bought 5,048 shares of the company's stock in a transaction on Friday, May 30th. The stock was purchased at an average price of $21.99 per share, with a total value of $111,005.52. Following the completion of the transaction, the chief accounting officer now directly owns 23,266 shares of the company's stock, valued at approximately $511,619.34. The trade was a 27.71% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 25,766 shares of company stock valued at $572,402. 0.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

Large investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its position in Reynolds Consumer Products by 4.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock valued at $363,000 after purchasing an additional 566 shares during the last quarter. Barclays PLC raised its position in Reynolds Consumer Products by 173.9% in the third quarter. Barclays PLC now owns 63,121 shares of the company's stock valued at $1,963,000 after purchasing an additional 40,075 shares during the last quarter. Stifel Financial Corp raised its position in 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 purchasing an additional 60,616 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Reynolds Consumer Products in the fourth quarter valued at about $424,000. Finally, Charles Schwab Investment Management Inc. raised its position in Reynolds Consumer Products by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company's stock valued at $15,976,000 after purchasing an additional 19,044 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors.

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.