Canaccord Genuity Group Issues Pessimistic Forecast for Reynolds Consumer Products (NASDAQ:REYN) Stock Price

Reynolds Consumer Products (NASDAQ:REYN - Free Report) had its target price decreased by Canaccord Genuity Group from $31.00 to $30.00 in a research note issued to investors on Thursday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Other analysts have also issued reports about the stock. Stifel Nicolaus cut their target price on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a "hold" rating for the company in a research note on Thursday. 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, February 3rd. Evercore ISI cut their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on Reynolds Consumer Products from $30.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, UBS Group reduced their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $30.38.

Reynolds Consumer Products Price Performance

Shares of Reynolds Consumer Products stock traded down $0.37 on Thursday, hitting $24.60. The company had a trading volume of 837,860 shares, compared to its average volume of 570,995. The company has a market cap of $5.17 billion, a PE ratio of 14.64 and a beta of 0.50. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.89. Reynolds Consumer Products has a 52 week low of $24.43 and a 52 week high of $32.65. The business has a 50-day simple moving average of $27.21 and a 200-day simple moving average of $28.79.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced 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 return on equity of 17.14% and a net margin of 9.56%. Research analysts expect that Reynolds Consumer Products will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.74%. Reynolds Consumer Products's payout ratio is 54.76%.

Insider Activity at Reynolds Consumer Products

In related news, Director Helen Golding bought 1,190 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the acquisition, the director now owns 1,190 shares in the company, valued at $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rolf Stangl purchased 3,682 shares of the stock in a transaction on Thursday, December 19th. The shares were bought at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the acquisition, the director now owns 10,889 shares of the company's stock, valued at approximately $299,447.50. The trade was a 51.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of REYN. Allspring Global Investments Holdings LLC grew its position in shares of Reynolds Consumer Products by 1.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company's stock valued at $351,564,000 after purchasing an additional 182,353 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Reynolds Consumer Products by 13.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company's stock valued at $32,707,000 after buying an additional 139,576 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Reynolds Consumer Products by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company's stock worth $15,976,000 after buying an additional 19,044 shares during the period. Verition Fund Management LLC acquired a new position in shares of Reynolds Consumer Products during the third quarter worth approximately $12,844,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Reynolds Consumer Products by 19.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 334,535 shares of the company's stock valued at $9,029,000 after acquiring an additional 54,203 shares during the period. 26.81% of the stock is currently 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.