Reynolds Consumer Products (NASDAQ:REYN) Sets New 52-Week Low - Should You Sell?

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $23.28 and last traded at $23.32, with a volume of 83508 shares traded. The stock had previously closed at $23.45.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. UBS Group dropped 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 research note on Thursday, January 16th. Barclays reduced their price objective on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus dropped their target price on Reynolds Consumer Products from $32.00 to $31.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Finally, Evercore ISI cut their price target 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. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $30.38.

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Reynolds Consumer Products Price Performance

The stock has a 50-day moving average price of $25.69 and a two-hundred day moving average price of $27.98. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 13.93 and a beta of 0.56. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, hitting 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, equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.94%. Reynolds Consumer Products's dividend payout ratio is currently 54.76%.

Insider Activity

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 6,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the acquisition, the director now owns 16,889 shares in the company, valued at $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On Reynolds Consumer Products

Several large investors have recently made changes to their positions in the company. Atria Investments Inc boosted its stake in shares of Reynolds Consumer Products by 16.1% during the 3rd quarter. Atria Investments Inc now owns 11,286 shares of the company's stock worth $351,000 after acquiring an additional 1,565 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in Reynolds Consumer Products by 854.9% in the third quarter. Los Angeles Capital Management LLC now owns 97,381 shares of the company's stock valued at $3,029,000 after purchasing an additional 87,183 shares during the period. Venturi Wealth Management LLC increased its position in shares of Reynolds Consumer Products by 93.7% in the third quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company's stock valued at $80,000 after buying an additional 1,239 shares in the last quarter. Versor Investments LP acquired a new position in shares of Reynolds Consumer Products during the 3rd quarter worth approximately $383,000. Finally, Victory Capital Management Inc. raised its stake in shares of Reynolds Consumer Products by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963 shares of the company's stock worth $528,000 after buying an additional 1,351 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.

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