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

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) shares hit a new 52-week low during trading 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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on REYN shares. Truist Financial cut 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 report on Thursday, April 24th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $30.00 price target on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Barclays cut their price target on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. UBS Group dropped their price objective on shares of Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Canaccord Genuity Group dropped their price objective on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Reynolds Consumer Products currently has an average rating of "Hold" and a consensus price target of $28.33.

Reynolds Consumer Products Stock Up 1.2%

The firm's fifty day moving average price is $22.99 and its two-hundred day moving average price is $24.97. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 12.94 and a beta of 0.61. 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 posted its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share 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 company had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. During the same quarter in the prior year, the business posted $0.23 EPS. The firm's revenue was down 1.8% compared to the same quarter last year. Sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.23%. Reynolds Consumer Products's dividend payout ratio is presently 57.50%.

Insider Buying and Selling

In other Reynolds Consumer Products news, Director Rolf Stangl bought 2,500 shares of the 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 acquisition, the director now directly owns 19,389 shares of the company's stock, valued at approximately $450,212.58. The trade was a 14.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Chris Mayrhofer acquired 5,048 shares of the firm'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 purchase, the chief accounting officer now owns 23,266 shares in the company, 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. Insiders have acquired 25,766 shares of company stock worth $572,402 in the last quarter. Insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On Reynolds Consumer Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Reynolds Consumer Products by 115.2% in the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock valued at $35,000 after buying an additional 698 shares during the last quarter. Versant Capital Management Inc increased its stake in Reynolds Consumer Products by 38.1% in the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock valued at $61,000 after buying an additional 701 shares during the last quarter. Quarry LP increased its stake in Reynolds Consumer Products by 187.0% in the 4th quarter. Quarry LP now owns 2,531 shares of the company's stock valued at $68,000 after buying an additional 1,649 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Reynolds Consumer Products by 667.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock valued at $70,000 after buying an additional 2,248 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Reynolds Consumer Products by 36.0% in the 4th quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock valued at $94,000 after buying an additional 921 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company's stock.

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.