Reynolds Consumer Products (NASDAQ:REYN) Price Target Raised to $33.00 at JPMorgan Chase & Co.

Reynolds Consumer Products (NASDAQ:REYN) had its price objective upped by JPMorgan Chase & Co. from $29.00 to $33.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on REYN. 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. Barclays dropped their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an equal weight rating on the stock in a research note on Friday, July 19th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $31.00.

Reynolds Consumer Products Trading Up 0.3 %

Shares of NASDAQ:REYN traded up $0.08 during mid-day trading on Thursday, hitting $30.14. The stock had a trading volume of 526,970 shares, compared to its average volume of 536,693. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 2.11. The company has a market cap of $6.33 billion, a PE ratio of 19.15 and a beta of 0.47. Reynolds Consumer Products has a 12-month low of $24.80 and a 12-month high of $31.01. The company’s 50 day moving average is $27.93 and its 200-day moving average is $28.31.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $930.00 million during the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, sell-side analysts predict that Reynolds Consumer Products will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently declared 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. This represents a $0.92 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, August 16th. Reynolds Consumer Products’s dividend payout ratio is currently 58.60%.

Hedge Funds Weigh In On Reynolds Consumer Products

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Reynolds Consumer Products by 467.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,442 shares of the company’s stock worth $66,000 after buying an additional 2,012 shares during the period. Strs Ohio increased its holdings in shares of Reynolds Consumer Products by 27.9% in the fourth quarter. Strs Ohio now owns 89,678 shares of the company’s stock valued at $2,406,000 after purchasing an additional 19,572 shares during the last quarter. Cornercap Investment Counsel Inc. increased its holdings in shares of Reynolds Consumer Products by 2.5% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 17,225 shares of the company’s stock valued at $462,000 after purchasing an additional 416 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Reynolds Consumer Products by 14.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,665 shares of the company’s stock valued at $394,000 after purchasing an additional 1,864 shares during the last quarter. Finally, KLCM Advisors Inc. increased its holdings in shares of Reynolds Consumer Products by 112.6% in the fourth quarter. KLCM Advisors Inc. now owns 522,891 shares of the company’s stock valued at $14,034,000 after purchasing an additional 276,898 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.