Reynolds Consumer Products (NASDAQ:REYN) Reaches New 12-Month Low on Analyst Downgrade

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) reached a new 52-week low during mid-day trading on Thursday after Barclays lowered their price target on the stock from $27.00 to $25.00. Barclays currently has an equal weight rating on the stock. Reynolds Consumer Products traded as low as $25.88 and last traded at $25.67, with a volume of 78049 shares. The stock had previously closed at $26.63.

Several other brokerages have also recently issued reports on REYN. JPMorgan Chase & Co. dropped their price objective on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a research report on Monday. Finally, UBS Group reduced 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 Thursday, January 16th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.57.

Insider Activity at Reynolds Consumer Products

In other news, 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 price of $27.50 per share, with a total value of $101,255.00. Following the purchase, the director now owns 10,889 shares in the company, valued at approximately $299,447.50. The trade was a 51.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Helen Golding acquired 1,190 shares of the stock in a transaction dated Thursday, November 14th. The stock was acquired 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 of the company’s stock, valued at approximately $32,820.20. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in REYN. Marshall Wace LLP purchased a new position in Reynolds Consumer Products in the second quarter valued at $612,000. Creative Planning increased its holdings in shares of Reynolds Consumer Products by 6.8% in the 2nd quarter. Creative Planning now owns 14,902 shares of the company’s stock valued at $417,000 after acquiring an additional 944 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Reynolds Consumer Products during the 2nd quarter worth about $367,000. Handelsbanken Fonder AB lifted its stake in Reynolds Consumer Products by 68.9% during the third quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock worth $709,000 after purchasing an additional 9,300 shares during the last quarter. Finally, CWM LLC boosted its holdings in Reynolds Consumer Products by 45.5% in the third quarter. CWM LLC now owns 32,088 shares of the company’s stock valued at $998,000 after purchasing an additional 10,038 shares in the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Price Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. The company’s 50 day simple moving average is $27.32 and its 200 day simple moving average is $28.81. The company has a market capitalization of $5.39 billion, a PE ratio of 14.65 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. As a group, sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, February 14th. Reynolds Consumer Products’s payout ratio is currently 52.57%.

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.