Reynolds Consumer Products (NASDAQ:REYN) Hits New 1-Year High at $31.88

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $31.88 and last traded at $31.86, with a volume of 57803 shares changing hands. The stock had previously closed at $31.48.

Wall Street Analysts Forecast Growth

Several research firms have commented on REYN. JPMorgan Chase & Co. lifted their target price on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. Royal Bank of Canada lifted their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a "sector perform" rating in a research report on Thursday, August 8th. Canaccord Genuity Group increased their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a "hold" rating in a research report on Thursday, August 8th. Barclays lifted their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They set a "buy" rating and a $38.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Reynolds Consumer Products presently has an average rating of "Hold" and a consensus price target of $32.00.

Reynolds Consumer Products Stock Up 2.2 %

The company has a current ratio of 2.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 20.50 and a beta of 0.48. The firm has a 50 day moving average price of $28.83 and a two-hundred day moving average price of $28.70.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The firm had revenue of $930.00 million for the quarter, compared to analysts' expectations of $890.71 million. During the same period in the previous year, the company posted $0.32 earnings per share. Reynolds Consumer Products's revenue was down 1.1% compared to the same quarter last year. On average, equities analysts expect that Reynolds Consumer Products Inc. will post 1.69 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, August 30th. Stockholders of record on Friday, August 16th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.86%. Reynolds Consumer Products's dividend payout ratio (DPR) is currently 58.60%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in REYN. Pacer Advisors Inc. raised its position in shares of Reynolds Consumer Products by 48.6% in the 2nd quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company's stock valued at $108,845,000 after purchasing an additional 1,272,353 shares in the last quarter. AQR Capital Management LLC boosted its stake in Reynolds Consumer Products by 122.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company's stock valued at $43,588,000 after acquiring an additional 858,419 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Reynolds Consumer Products by 17.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company's stock valued at $49,859,000 after acquiring an additional 261,513 shares during the last quarter. Norges Bank acquired a new position in Reynolds Consumer Products during the 4th quarter worth $6,924,000. Finally, Acadian Asset Management LLC increased its position in shares of Reynolds Consumer Products by 994.7% in the 1st quarter. Acadian Asset Management LLC now owns 212,694 shares of the company's stock worth $6,068,000 after purchasing an additional 193,265 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.