Reynolds Consumer Products (NASDAQ:REYN) Hits New 12-Month Low After Analyst Downgrade

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) reached a new 52-week low on Thursday after Canaccord Genuity Group lowered their price target on the stock from $31.00 to $30.00. Canaccord Genuity Group currently has a hold rating on the stock. Reynolds Consumer Products traded as low as $25.88 and last traded at $25.67, with a volume of 78049 shares changing hands. The stock had previously closed at $26.63.

Several other analysts have also weighed in on REYN. JPMorgan Chase & Co. dropped their price objective on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Evercore ISI decreased their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday. Barclays cut their price target on Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Thursday. UBS Group decreased their price objective 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. Finally, Stifel Nicolaus dropped 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. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $30.38.

Insider Buying and Selling

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

Hedge Funds Weigh In On Reynolds Consumer Products

Hedge funds have recently added to or reduced their stakes in the stock. ARGA Investment Management LP acquired a new position in shares of Reynolds Consumer Products during the 3rd quarter worth about $751,000. Barclays PLC boosted its stake in Reynolds Consumer Products by 173.9% during the 3rd 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. Point72 Asset Management L.P. acquired a new position in Reynolds Consumer Products during the third quarter valued at approximately $4,397,000. Beacon Harbor Wealth Advisors Inc. bought a new stake in Reynolds Consumer Products in the third quarter valued at approximately $5,731,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Reynolds Consumer Products in the third quarter worth $851,000. Institutional investors and hedge funds own 26.81% of the company's stock.

Reynolds Consumer Products Trading Down 1.5 %

The company has a market capitalization of $5.17 billion, a P/E 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. The business's 50-day moving average price is $27.21 and its two-hundred day moving average price is $28.79.

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

Reynolds Consumer Products Dividend Announcement

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

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.