Reynolds Consumer Products (NASDAQ:REYN) Given New $32.00 Price Target at Canaccord Genuity Group

Reynolds Consumer Products (NASDAQ:REYN) had its target price boosted by Canaccord Genuity Group from $30.00 to $32.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Other analysts have also issued research reports about the stock. Barclays decreased their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an equal weight rating on the stock in a report on Friday, July 19th. JPMorgan Chase & Co. lowered their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a neutral rating on the stock in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $31.00.

Reynolds Consumer Products Price Performance

Shares of NASDAQ REYN opened at $30.14 on Thursday. The stock has a fifty day moving average of $27.96 and a 200-day moving average of $28.35. The stock has a market cap of $6.33 billion, a PE ratio of 19.20 and a beta of 0.47. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 2.11. Reynolds Consumer Products has a fifty-two week low of $24.80 and a fifty-two week high of $31.01.

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

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, August 16th. Reynolds Consumer Products’s payout ratio is 58.60%.

Institutional Trading of Reynolds Consumer Products

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in Reynolds Consumer Products by 510.2% during the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after purchasing an additional 801 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Reynolds Consumer Products during the 1st quarter valued at about $35,000. Versant Capital Management Inc bought a new stake in Reynolds Consumer Products in the 2nd quarter worth approximately $39,000. Quadrant Capital Group LLC boosted its stake in Reynolds Consumer Products by 97.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock worth $52,000 after buying an additional 960 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in Reynolds Consumer Products during the fourth quarter valued at approximately $61,000. 26.81% of the stock is owned by institutional investors.

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.