Reynolds Consumer Products (NASDAQ:REYN) Price Target Cut to $24.00 by Analysts at JPMorgan Chase & Co.

Reynolds Consumer Products (NASDAQ:REYN - Free Report) had its target price cut by JPMorgan Chase & Co. from $26.00 to $24.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also commented on REYN. Evercore ISI lowered their price objective on 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 $31.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. UBS Group decreased their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $32.00 target price on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Finally, Stifel Nicolaus lowered their price target 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. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $29.38.

Reynolds Consumer Products Stock Down 1.7 %

Shares of REYN traded down $0.41 during midday trading on Friday, reaching $23.19. 127,124 shares of the stock were exchanged, compared to its average volume of 600,117. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 13.80 and a beta of 0.64. The firm has a 50 day simple moving average of $23.91 and a 200-day simple moving average of $26.56. Reynolds Consumer Products has a 12-month low of $21.90 and a 12-month high of $32.65. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Research analysts forecast that Reynolds Consumer Products will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.97%. Reynolds Consumer Products's dividend payout ratio is currently 54.76%.

Insider Buying and Selling at Reynolds Consumer Products

In other news, Director Rolf Stangl acquired 6,000 shares of the company's stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $24.89 per share, with a total value of $149,340.00. Following the completion of the acquisition, the director now owns 16,889 shares in the company, valued at approximately $420,367.21. This represents a 55.10 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On Reynolds Consumer Products

Several institutional investors have recently bought and sold shares of REYN. Envestnet Portfolio Solutions Inc. lifted its position in Reynolds Consumer Products by 4.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock worth $363,000 after buying an additional 566 shares in the last quarter. Barclays PLC raised its stake in shares of Reynolds Consumer Products by 173.9% in the third quarter. Barclays PLC now owns 63,121 shares of the company's stock worth $1,963,000 after acquiring an additional 40,075 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Reynolds Consumer Products during the fourth quarter worth approximately $424,000. Charles Schwab Investment Management Inc. grew its stake in shares of Reynolds Consumer Products by 3.3% during 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. Finally, Vanguard Group Inc. grew its stake in shares of Reynolds Consumer Products by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company's stock valued at $157,704,000 after purchasing an additional 17,756 shares during the last quarter. 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.