Barclays Boosts Reynolds Consumer Products (NASDAQ:REYN) Price Target to $28.00

Reynolds Consumer Products (NASDAQ:REYN) had its price objective raised by Barclays from $27.00 to $28.00 in a research note released on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. lifted their price target on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Royal Bank of Canada reaffirmed a sector perform rating and set a $31.00 price target on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Stifel Nicolaus reaffirmed a hold rating and set a $30.00 price target on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Finally, TheStreet raised Reynolds Consumer Products from a c+ rating to a b- rating in a research report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $29.80.

Reynolds Consumer Products Stock Down 1.7 %

Shares of REYN stock opened at $28.26 on Friday. Reynolds Consumer Products has a 1-year low of $24.80 and a 1-year high of $30.54. The stock’s fifty day moving average price is $28.71 and its 200 day moving average price is $27.22. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.18 and a quick ratio of 1.08. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 19.90 and a beta of 0.49.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, February 7th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.53 EPS. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, research analysts expect that Reynolds Consumer Products will post 1.61 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.26%. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 64.79%.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of large investors have recently bought and sold shares of REYN. FMR LLC raised its holdings in Reynolds Consumer Products by 7.4% in the 3rd quarter. FMR LLC now owns 6,454,619 shares of the company’s stock worth $165,432,000 after purchasing an additional 442,654 shares during the period. Sei Investments Co. raised its holdings in Reynolds Consumer Products by 1,300.8% in the 1st quarter. Sei Investments Co. now owns 426,887 shares of the company’s stock worth $11,740,000 after purchasing an additional 396,413 shares during the period. Ceredex Value Advisors LLC acquired a new position in Reynolds Consumer Products in the 4th quarter worth about $8,408,000. Marshall Wace LLP raised its holdings in Reynolds Consumer Products by 1,006.4% in the 4th quarter. Marshall Wace LLP now owns 324,953 shares of the company’s stock worth $9,742,000 after purchasing an additional 295,584 shares during the period. Finally, KLCM Advisors Inc. raised its holdings in Reynolds Consumer Products by 112.6% in the 4th quarter. KLCM Advisors Inc. now owns 522,891 shares of the company’s stock worth $14,034,000 after purchasing an additional 276,898 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.