Stifel Nicolaus Cuts Reynolds Consumer Products (NASDAQ:REYN) Price Target to $31.00

Reynolds Consumer Products (NASDAQ:REYN) had its price target reduced by Stifel Nicolaus from $32.00 to $31.00 in a research report sent to investors on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other research firms have also commented on REYN. Barclays lowered their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $32.00 price objective on shares of Reynolds Consumer Products in a research note on Monday. Evercore ISI dropped their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday. UBS Group reduced their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Reynolds Consumer Products currently has an average rating of “Hold” and an average price target of $30.38.

Reynolds Consumer Products Stock Performance

Shares of REYN opened at $24.82 on Thursday. The stock has a market capitalization of $5.22 billion, a PE ratio of 14.18 and a beta of 0.50. The business’s fifty day moving average price is $27.32 and its 200 day moving average price is $28.81. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. Reynolds Consumer Products has a 12-month low of $24.79 and a 12-month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its 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 net margin of 10.03% and a return on equity of 18.27%. Equities research analysts forecast that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, February 14th. This represents a $0.92 annualized dividend and a yield of 3.71%. Reynolds Consumer Products’s payout ratio is 52.57%.

Insider Transactions at Reynolds Consumer Products

In other news, Director Helen Golding purchased 1,190 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the purchase, the director now owns 1,190 shares in the company, valued at $32,820.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rolf Stangl bought 3,682 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average cost of $27.50 per share, with a total value of $101,255.00. Following the purchase, the director now directly owns 10,889 shares of the company’s stock, valued at approximately $299,447.50. This represents a 51.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Reynolds Consumer Products

Several hedge funds have recently made changes to their positions in REYN. Abich Financial Wealth Management LLC lifted its stake in Reynolds Consumer Products by 21.3% during the third quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock valued at $73,000 after purchasing an additional 414 shares during the last quarter. Covestor Ltd increased its holdings in shares of Reynolds Consumer Products by 14.8% in the third quarter. Covestor Ltd now owns 4,564 shares of the company’s stock valued at $142,000 after buying an additional 588 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Reynolds Consumer Products by 1.3% during the 3rd quarter. MML Investors Services LLC now owns 48,700 shares of the company’s stock valued at $1,515,000 after acquiring an additional 641 shares during the last quarter. 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 last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in shares of Reynolds Consumer Products by 5.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 16,419 shares of the company’s stock worth $443,000 after acquiring an additional 814 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

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.