Reynolds Consumer Products (NASDAQ:REYN) Sets New 1-Year High at $30.58

Reynolds Consumer Products Inc. (NASDAQ:REYN)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $30.58 and last traded at $30.45, with a volume of 202158 shares changing hands. The stock had previously closed at $28.57.

Wall Street Analysts Forecast Growth

Several analysts have commented on REYN shares. Barclays decreased their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. JPMorgan Chase & Co. decreased their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Finally, Canaccord Genuity Group boosted their price target on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, May 9th. Six analysts have rated the stock with a hold rating, According to MarketBeat, Reynolds Consumer Products has an average rating of “Hold” and an average target price of $29.67.

Reynolds Consumer Products Price Performance

The stock has a fifty day moving average of $27.82 and a 200-day moving average of $28.28. The firm has a market capitalization of $6.43 billion, a P/E ratio of 19.45 and a beta of 0.47. The company has a quick ratio of 1.01, a current ratio of 2.11 and a debt-to-equity ratio of 0.92.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Reynolds Consumer Products had a net margin of 8.88% and a return on equity of 17.09%. The company had revenue of $833.00 million for the quarter, compared to the consensus estimate of $814.92 million. During the same period in the prior year, the company posted $0.08 EPS. The company’s revenue was down 4.7% compared to the same quarter last year. Equities analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.23 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.92 annualized dividend and a yield of 3.01%. Reynolds Consumer Products’s dividend payout ratio is currently 58.60%.

Institutional Investors Weigh In On Reynolds Consumer Products

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in Reynolds Consumer Products by 62.5% during the second quarter. Acadian Asset Management LLC now owns 345,696 shares of the company’s stock worth $9,662,000 after buying an additional 133,002 shares during the last quarter. Gallacher Capital Management LLC bought a new position in Reynolds Consumer Products during the 2nd quarter worth approximately $409,000. Los Angeles Capital Management LLC acquired a new position in Reynolds Consumer Products during the second quarter valued at approximately $285,000. Savant Capital LLC increased its stake in Reynolds Consumer Products by 135.1% in the second quarter. Savant Capital LLC now owns 27,429 shares of the company’s stock valued at $767,000 after purchasing an additional 15,764 shares in the last quarter. Finally, Impact Partnership Wealth LLC acquired a new stake in Reynolds Consumer Products in the second quarter worth $227,000. 26.81% of the stock is owned by institutional investors and hedge funds.

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.