Reynolds Consumer Products Inc. (NASDAQ:REYN) Receives $32.00 Average Target Price from Brokerages

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) have earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $32.00.

A number of research analysts have recently commented on the company. Barclays upped their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Canaccord Genuity Group increased their target price on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada boosted their price target on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products in a report on Thursday, August 29th. They set a “buy” rating and a $38.00 target price on the stock.

Reynolds Consumer Products Stock Performance

NASDAQ REYN opened at $31.10 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. The company has a market capitalization of $6.54 billion, a PE ratio of 19.81 and a beta of 0.48. Reynolds Consumer Products has a 52-week low of $24.80 and a 52-week high of $32.65. The company has a 50-day simple moving average of $30.40 and a 200 day simple moving average of $29.00.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The company had revenue of $930.00 million for the quarter, compared to analysts’ expectations of $890.71 million. During the same quarter in the previous year, the firm posted $0.32 EPS. Reynolds Consumer Products’s revenue was down 1.1% on a year-over-year basis. On average, research analysts predict that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 58.60%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Reynolds Consumer Products by 10.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 536,320 shares of the company’s stock valued at $14,395,000 after acquiring an additional 50,425 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Reynolds Consumer Products by 23.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock valued at $31,069,000 after purchasing an additional 218,864 shares during the last quarter. Norges Bank purchased a new position in Reynolds Consumer Products in the 4th quarter worth approximately $6,924,000. Parallel Advisors LLC increased its holdings in shares of Reynolds Consumer Products by 26.9% in the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock worth $61,000 after buying an additional 485 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Reynolds Consumer Products by 4.6% in the 4th quarter. TD Asset Management Inc now owns 560,200 shares of the company’s stock worth $15,036,000 after buying an additional 24,800 shares during the last quarter. 26.81% of the stock is owned by institutional investors.

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.