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 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Monday, May 16th.
Reynolds Consumer Products has a payout ratio of 51.1% meaning its dividend is sufficiently covered by earnings. Equities 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 current ratio of 2.28, a quick ratio of 1.08 and a debt-to-equity ratio of 1.19. The company has a fifty day simple moving average of $29.53 and a 200 day simple moving average of $29.68. The company 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 1 year low of $26.50 and a 1 year high of $32.29.
A number of institutional investors have recently bought and sold shares of REYN. Norges Bank acquired a new position in Reynolds Consumer Products in the 4th quarter worth about $6,170,000. BlackRock Inc. raised its holdings in shares of Reynolds Consumer Products by 15.0% during the fourth quarter. BlackRock Inc. now owns 2,516,409 shares of the company’s stock valued at $79,014,000 after acquiring an additional 327,878 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Reynolds Consumer Products by 30.6% during the fourth quarter. Parametric Portfolio Associates LLC now owns 84,697 shares of the company’s stock valued at $2,659,000 after acquiring an additional 19,856 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new position in shares of Reynolds Consumer Products during the fourth quarter valued at approximately $34,000. Finally, Advisors Asset Management Inc. grew its position in shares of Reynolds Consumer Products by 20.5% in the fourth quarter. Advisors Asset Management Inc. now owns 80,657 shares of the company’s stock valued at $2,533,000 after purchasing an additional 13,707 shares in the last quarter. Institutional investors and hedge funds own 33.43% of the company’s stock.
REYN has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Reynolds Consumer Products from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, March 30th. Zacks Investment Research raised Reynolds Consumer Products from a “sell” rating to a “hold” rating in a research report on Friday. 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. TheStreet downgraded Reynolds Consumer Products from a “b-” rating to a “c” rating in a research note on Monday, March 7th. Finally, The Goldman Sachs Group downgraded Reynolds Consumer Products from a “buy” rating to a “sell” rating in a research note on Tuesday, March 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of “Hold” and an average target price of $33.00.
About Reynolds Consumer Products (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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