Reynolds Consumer Products Inc. (NASDAQ:REYN – Get Rating) declared a quarterly dividend on Thursday, April 28th, Zacks reports. Stockholders of record on Tuesday, May 17th will be given a dividend of 0.23 per share on Tuesday, May 31st. This represents a $0.92 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Monday, May 16th.
Reynolds Consumer Products has a dividend payout ratio of 51.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Reynolds Consumer Products to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 51.1%.
NASDAQ:REYN opened at $29.59 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.28 and a debt-to-equity ratio of 1.19. The firm’s fifty day simple moving average is $29.53 and its 200 day simple moving average is $29.68. The stock has a market cap of $6.21 billion, a P/E ratio of 19.21 and a beta of 0.34. Reynolds Consumer Products has a twelve month low of $26.50 and a twelve month high of $32.29.
A number of research firms have weighed in on REYN. JPMorgan Chase & Co. reduced their target price on Reynolds Consumer Products from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, March 30th. TheStreet cut shares of Reynolds Consumer Products from a “b-” rating to a “c” rating in a research report on Monday, March 7th. Zacks Investment Research upgraded shares of Reynolds Consumer Products from a “sell” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group lowered shares of Reynolds Consumer Products from a “buy” rating to a “sell” rating in a report on Tuesday, March 29th. Finally, Stifel Nicolaus downgraded Reynolds Consumer Products from a “buy” rating to a “hold” rating and cut their price target for the stock from $33.00 to $31.00 in a research note on Wednesday, April 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Reynolds Consumer Products currently has an average rating of “Hold” and an average target price of $33.00.
Several institutional investors and hedge funds have recently made changes to their positions in REYN. LPL Financial LLC raised its holdings in Reynolds Consumer Products by 3.2% in the 3rd quarter. LPL Financial LLC now owns 20,027 shares of the company’s stock worth $548,000 after acquiring an additional 626 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Reynolds Consumer Products by 4.8% in the 4th quarter. Alliancebernstein L.P. now owns 16,098 shares of the company’s stock worth $505,000 after purchasing an additional 736 shares in the last quarter. Metropolitan Life Insurance Co NY purchased a new position in shares of Reynolds Consumer Products in the fourth quarter worth $34,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Reynolds Consumer Products by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 273,577 shares of the company’s stock valued at $8,591,000 after purchasing an additional 7,506 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Reynolds Consumer Products by 105.5% during the fourth quarter. Squarepoint Ops LLC now owns 16,642 shares of the company’s stock valued at $523,000 after buying an additional 8,542 shares during the last quarter. 33.43% of the stock is owned by institutional investors.
Reynolds Consumer Products Company Profile (Get Rating)
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 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 E-Z Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.
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