Reynolds Consumer Products Inc. (NASDAQ:REYN) Declares $0.23 Quarterly Dividend

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 0.23 per share on Friday, February 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Friday, February 14th.

Reynolds Consumer Products has a payout ratio of 49.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Reynolds Consumer Products to earn $1.77 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 52.0%.

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock traded up $0.50 during trading hours on Monday, hitting $28.11. 801,695 shares of the company were exchanged, compared to its average volume of 480,543. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The business has a 50-day moving average of $27.33 and a 200-day moving average of $28.81. Reynolds Consumer Products has a 1 year low of $25.88 and a 1 year high of $32.65. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 16.06 and a beta of 0.50.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on REYN shares. UBS Group lowered their target price on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. JPMorgan Chase & Co. reduced their price target on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Barclays decreased their price objective on shares of Reynolds Consumer Products from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $32.00 price objective on shares of Reynolds Consumer Products in a research note on Monday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $30.86.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Helen Golding purchased 1,190 shares of Reynolds Consumer Products stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the transaction, the director now directly owns 1,190 shares in the company, valued at approximately $32,820.20. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rolf Stangl purchased 3,682 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average cost of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the transaction, the director now directly owns 10,889 shares in the company, valued at $299,447.50. This represents a 51.09 % increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by corporate insiders.

About Reynolds Consumer Products

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.