Reynolds Consumer Products (NASDAQ:REYN) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Reynolds Consumer Products Inc. (NASDAQ:REYN)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $23.23 and traded as high as $23.62. Reynolds Consumer Products shares last traded at $23.60, with a volume of 1,124,181 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Piper Sandler raised Reynolds Consumer Products to an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Reynolds Consumer Products in a research note on Friday, September 25th. UBS Group reissued a “neutral” rating and set a $24.00 price objective on shares of Reynolds Consumer Products in a report on Tuesday. JPMorgan Chase & Co. raised their target price on Reynolds Consumer Products from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Canaccord Genuity Group raised their target price on Reynolds Consumer Products from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.60.

Reynolds Consumer Products Stock Up 0.1%

The company has a quick ratio of 0.71, a current ratio of 1.80 and a debt-to-equity ratio of 0.66. The company has a market cap of $4.98 billion, a PE ratio of 14.41 and a beta of 0.55. The stock has a 50-day moving average of $22.62 and a 200-day moving average of $23.23.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.03%. The company had revenue of $944.00 million for the quarter, compared to analysts’ expectations of $935.46 million. During the same period in the prior year, the business earned $0.39 earnings per share. Reynolds Consumer Products’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts predict that Reynolds Consumer Products Inc. will post 1.60 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be given a dividend of $0.23 per share. The ex-dividend date is Monday, November 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.9%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 56.10%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Reynolds Consumer Products in the second quarter worth about $190,109,000. Dimensional Fund Advisors LP raised its position in shares of Reynolds Consumer Products by 14.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,068,602 shares of the company’s stock worth $107,350,000 after purchasing an additional 643,573 shares during the last quarter. First Trust Advisors LP raised its holdings in Reynolds Consumer Products by 8.5% in the first quarter. First Trust Advisors LP now owns 2,329,337 shares of the company’s stock worth $49,335,000 after buying an additional 182,772 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Reynolds Consumer Products in the 2nd quarter valued at approximately $27,907,000. Finally, Bank of America Corp DE bought a new position in shares of Reynolds Consumer Products during the second quarter valued at $18,104,000. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

About Reynolds Consumer Products

Reynolds Consumer Products Inc (NASDAQ:REYN) manufactures and markets household products used for food preparation, storage, cleanup and waste management. Its portfolio includes aluminum foil, parchment paper, plastic wrap, disposable cookware, trash bags, food-storage bags and other everyday consumer products.

The company sells products under well-known brands including Reynolds and Reynolds Kitchens, Hefty, Presto, Diamond and Fresh. Its offerings are distributed through grocery stores, mass merchants, club stores, e-commerce channels and other retail outlets, as well as through foodservice and other commercial customers.

Reynolds Consumer Products serves consumers primarily in the United States and Canada.