UBS Group Cuts Reynolds Consumer Products (NASDAQ:REYN) Price Target to $26.00

Reynolds Consumer Products (NASDAQ:REYN) had its target price cut by UBS Group from $29.00 to $26.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently commented on REYN. Barclays decreased their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus cut their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Canaccord Genuity Group lowered their price target on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. decreased their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $32.00 price target on shares of Reynolds Consumer Products in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus price target of $29.00.

Reynolds Consumer Products Trading Up 2.4 %

NASDAQ REYN opened at $23.65 on Thursday. The firm has a market capitalization of $4.97 billion, a PE ratio of 14.08 and a beta of 0.64. Reynolds Consumer Products has a one year low of $21.90 and a one year high of $32.65. The company has a 50-day simple moving average of $23.83 and a 200-day simple moving average of $26.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. On average, equities analysts forecast that Reynolds Consumer Products will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.89%. Reynolds Consumer Products’s dividend payout ratio is currently 54.76%.

Insider Buying and Selling

In related news, Director Rolf Stangl bought 6,000 shares of Reynolds Consumer Products stock in a transaction dated Monday, February 10th. The stock was acquired at an average cost of $24.89 per share, with a total value of $149,340.00. Following the completion of the acquisition, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% of the company’s stock.

Institutional Trading of Reynolds Consumer Products

Several institutional investors and hedge funds have recently bought and sold shares of REYN. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Reynolds Consumer Products by 4.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company’s stock worth $363,000 after buying an additional 566 shares during the period. Barclays PLC lifted its position in shares of Reynolds Consumer Products by 173.9% in the 3rd quarter. Barclays PLC now owns 63,121 shares of the company’s stock valued at $1,963,000 after acquiring an additional 40,075 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Reynolds Consumer Products in the 4th quarter worth approximately $424,000. Charles Schwab Investment Management Inc. grew its position in Reynolds Consumer Products by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company’s stock worth $15,976,000 after purchasing an additional 19,044 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Reynolds Consumer Products by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company’s stock valued at $157,704,000 after purchasing an additional 17,756 shares during the period. 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.