Reynolds Consumer Products Inc. (NASDAQ:REYN) Short Interest Update

Reynolds Consumer Products Inc. (NASDAQ:REYN) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 2,830,000 shares, a growth of 20.4% from the March 15th total of 2,350,000 shares. Based on an average daily volume of 718,600 shares, the days-to-cover ratio is currently 3.9 days. Currently, 5.2% of the shares of the company are sold short.

Analyst Ratings Changes

Several research firms have recently issued reports on REYN. JPMorgan Chase & Co. decreased their price objective on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Evercore ISI cut their price objective on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Canaccord Genuity Group reduced 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. UBS Group decreased their price target on shares of Reynolds Consumer Products from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Barclays reduced their price objective on 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. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Reynolds Consumer Products currently has a consensus rating of “Hold” and an average price target of $29.00.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl acquired 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average price of $24.89 per share, with a total value of $149,340.00. Following the acquisition, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. The trade was a 55.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Reynolds Consumer Products

Institutional investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Reynolds Consumer Products by 4.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company’s stock valued at $363,000 after buying an additional 566 shares during the period. Barclays PLC raised its position in Reynolds Consumer Products by 173.9% in the 3rd quarter. Barclays PLC now owns 63,121 shares of the company’s stock valued at $1,963,000 after buying an additional 40,075 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Reynolds Consumer Products in the 4th quarter valued at approximately $424,000. Charles Schwab Investment Management Inc. grew its stake in shares of Reynolds Consumer Products by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company’s stock worth $15,976,000 after acquiring an additional 19,044 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Reynolds Consumer Products by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company’s stock valued at $157,704,000 after purchasing an additional 17,756 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ:REYN opened at $23.65 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The firm has a market cap of $4.97 billion, a PE ratio of 14.08 and a beta of 0.64. The business has a fifty day moving average of $23.82 and a 200-day moving average of $26.34. Reynolds Consumer Products has a twelve month low of $21.90 and a twelve month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. On average, equities research analysts predict that Reynolds Consumer Products will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 annualized dividend and a yield of 3.89%. Reynolds Consumer Products’s dividend payout ratio is presently 54.76%.

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.