Reynolds Consumer Products (NASDAQ:REYN) Raised to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of Reynolds Consumer Products (NASDAQ:REYN - Free Report) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

A number of other research firms also recently issued reports on REYN. Royal Bank of Canada reissued a "sector perform" rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Stifel Nicolaus reduced their price target on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Evercore ISI reduced their price objective on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. Truist Financial decreased their target price on 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. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.33.

Reynolds Consumer Products Trading Down 0.4%

NASDAQ:REYN traded down $0.10 during trading hours on Friday, reaching $22.19. 1,327,969 shares of the company were exchanged, compared to its average volume of 643,502. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 13.21 and a beta of 0.61. The stock has a 50 day simple moving average of $23.18 and a 200 day simple moving average of $25.15. Reynolds Consumer Products has a 52-week low of $21.63 and a 52-week high of $32.65. 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 issued its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The business had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. During the same period last year, the company posted $0.23 EPS. The business's quarterly revenue was down 1.8% on a year-over-year basis. As a group, analysts predict that Reynolds Consumer Products will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

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 4.15%. The ex-dividend date was Friday, May 16th. Reynolds Consumer Products's dividend payout ratio is presently 57.50%.

Insiders Place Their Bets

In other Reynolds Consumer Products news, CAO Chris Mayrhofer bought 18,218 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were acquired at an average cost of $22.14 per share, for a total transaction of $403,346.52. Following the acquisition, the chief accounting officer now directly owns 18,218 shares of the company's stock, valued at $403,346.52. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Rolf Stangl purchased 2,500 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $23.22 per share, for a total transaction of $58,050.00. Following the transaction, the director now owns 19,389 shares of the company's stock, valued at $450,212.58. The trade was a 14.80% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 25,766 shares of company stock worth $572,402. 0.15% of the stock is owned by corporate insiders.

Institutional Trading of Reynolds Consumer Products

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in Reynolds Consumer Products by 115.2% in the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after buying an additional 698 shares in the last quarter. Quarry LP boosted its holdings in shares of Reynolds Consumer Products by 187.0% during the 4th quarter. Quarry LP now owns 2,531 shares of the company's stock worth $68,000 after buying an additional 1,649 shares during the period. Versant Capital Management Inc boosted its holdings in Reynolds Consumer Products by 38.1% during the first quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock valued at $61,000 after acquiring an additional 701 shares during the period. Farther Finance Advisors LLC grew its holdings 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 grew its stake in shares of Reynolds Consumer Products by 36.0% in 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 during the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

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.