Reynolds Consumer Products Inc. (NASDAQ:REYN) Given Average Recommendation of “Hold” by Analysts

Reynolds Consumer Products Inc. (NASDAQ:REYN) has received an average recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $31.00.

A number of equities research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday. Canaccord Genuity Group increased their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, Royal Bank of Canada boosted their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday.

Institutional Trading of Reynolds Consumer Products

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in shares of Reynolds Consumer Products by 22.2% during the second quarter. Renaissance Technologies LLC now owns 304,705 shares of the company’s stock worth $8,526,000 after purchasing an additional 55,405 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Reynolds Consumer Products by 17.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock worth $49,859,000 after acquiring an additional 261,513 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Reynolds Consumer Products by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 252,761 shares of the company’s stock worth $7,072,000 after acquiring an additional 2,763 shares during the period. American Century Companies Inc. grew its position in Reynolds Consumer Products by 188.8% in the second quarter. American Century Companies Inc. now owns 280,137 shares of the company’s stock valued at $7,838,000 after acquiring an additional 183,125 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Reynolds Consumer Products by 62.5% during the second quarter. Acadian Asset Management LLC now owns 345,696 shares of the company’s stock valued at $9,662,000 after purchasing an additional 133,002 shares during the period. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Reynolds Consumer Products Trading Up 0.3 %

Shares of Reynolds Consumer Products stock opened at $30.14 on Wednesday. The firm has a market cap of $6.33 billion, a PE ratio of 19.20 and a beta of 0.47. The company has a quick ratio of 1.01, a current ratio of 2.11 and a debt-to-equity ratio of 0.92. Reynolds Consumer Products has a fifty-two week low of $24.80 and a fifty-two week high of $31.01. The business’s fifty day moving average is $27.96 and its two-hundred day moving average is $28.35.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.02. The firm had revenue of $930.00 million for the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. Analysts anticipate that Reynolds Consumer Products will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.05%. Reynolds Consumer Products’s payout ratio is 58.60%.

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.