Reynolds Consumer Products (NASDAQ:REYN) Shares Gap Down - Here's Why

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $27.81, but opened at $26.54. Reynolds Consumer Products shares last traded at $27.24, with a volume of 54,744 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on REYN shares. JPMorgan Chase & Co. cut their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Barclays cut their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Thursday. Evercore ISI lowered their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday. Canaccord Genuity Group dropped their target price on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus reduced their price target on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a "hold" rating for the company in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $30.38.

Reynolds Consumer Products Stock Performance

The stock has a market cap of $5.25 billion, a PE ratio of 14.86 and a beta of 0.50. The firm's 50-day moving average is $27.21 and its 200 day moving average is $28.78. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.89 and a current ratio of 2.04.

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

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Friday, February 14th. Reynolds Consumer Products's dividend payout ratio is presently 54.76%.

Insider Activity at Reynolds Consumer Products

In other news, Director Helen Golding acquired 1,190 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $27.58 per share, for a total transaction 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 trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rolf Stangl purchased 3,682 shares of Reynolds Consumer Products stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $27.50 per share, with a total value of $101,255.00. Following the completion of the acquisition, the director now directly owns 10,889 shares in the company, valued at approximately $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. 0.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Abich Financial Wealth Management LLC boosted its position in shares of Reynolds Consumer Products by 21.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company's stock worth $73,000 after purchasing an additional 414 shares in the last quarter. Isthmus Partners LLC boosted its holdings in Reynolds Consumer Products by 0.6% during the fourth quarter. Isthmus Partners LLC now owns 87,307 shares of the company's stock worth $2,356,000 after buying an additional 533 shares in the last quarter. Covestor Ltd grew its position in Reynolds Consumer Products by 14.8% during the third quarter. Covestor Ltd now owns 4,564 shares of the company's stock worth $142,000 after buying an additional 588 shares during the period. MML Investors Services LLC increased its holdings in Reynolds Consumer Products by 1.3% in the third quarter. MML Investors Services LLC now owns 48,700 shares of the company's stock valued at $1,515,000 after buying an additional 641 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Reynolds Consumer Products by 115.2% during the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock valued at $35,000 after acquiring an additional 698 shares during the period. Hedge funds and other institutional investors own 26.81% of the company's stock.

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.