Reynolds Consumer Products (NASDAQ:REYN) Hits New 52-Week Low – Time to Sell?

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) reached a new 52-week low during trading on Wednesday . The stock traded as low as $24.26 and last traded at $24.67, with a volume of 716198 shares. The stock had previously closed at $24.60.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on REYN shares. JPMorgan Chase & Co. cut 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. Barclays cut their price target 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price objective on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Canaccord Genuity Group dropped their target price on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, Evercore ISI decreased their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.38.

Reynolds Consumer Products Stock Performance

The business has a fifty day moving average of $27.02 and a 200-day moving average of $28.72. The company has a market cap of $5.18 billion, a PE ratio of 14.67 and a beta of 0.50. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (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%. Equities research analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.73%. Reynolds Consumer Products’s dividend payout ratio is 54.76%.

Insider Activity at Reynolds Consumer Products

In other news, Director Rolf Stangl bought 3,682 shares of the stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $27.50 per share, for a total transaction of $101,255.00. Following the purchase, the director now directly owns 10,889 shares in the company, valued at $299,447.50. This trade represents a 51.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Reynolds Consumer Products in the 3rd quarter worth about $29,000. Blue Trust Inc. grew its holdings in Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after purchasing an additional 698 shares during the period. Eagle Bay Advisors LLC purchased a new stake in Reynolds Consumer Products in the fourth quarter worth about $40,000. Capital Performance Advisors LLP bought a new position in shares of Reynolds Consumer Products during the third quarter valued at approximately $70,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Reynolds Consumer Products by 21.3% during the third quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock valued at $73,000 after purchasing an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

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.