Short Interest in Reynolds Consumer Products Inc. (NASDAQ:REYN) Grows By 20.4%

Reynolds Consumer Products Inc. (NASDAQ:REYN) was the target of a large growth in short interest in 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 presently 3.9 days. Currently, 5.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on REYN shares. UBS Group decreased their price target on shares of Reynolds Consumer Products from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Barclays reduced their target price on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Canaccord Genuity Group lowered their price target on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective on Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 target price on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.00.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl acquired 6,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $24.89 per share, with a total value of $149,340.00. Following the completion of the acquisition, the director now owns 16,889 shares of the company’s stock, valued at $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Reynolds Consumer Products

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CX Institutional bought a new stake in shares of Reynolds Consumer Products during the 1st quarter valued at $2,849,000. SG Americas Securities LLC lifted its position in Reynolds Consumer Products by 950.5% during the 1st quarter. SG Americas Securities LLC now owns 170,615 shares of the company’s stock valued at $4,071,000 after acquiring an additional 154,374 shares during the period. Olstein Capital Management L.P. boosted its stake in Reynolds Consumer Products by 28.6% during the first quarter. Olstein Capital Management L.P. now owns 304,850 shares of the company’s stock worth $7,274,000 after acquiring an additional 67,850 shares in the last quarter. GAMMA Investing LLC grew its holdings in Reynolds Consumer Products by 1,493.1% in the first quarter. GAMMA Investing LLC now owns 20,233 shares of the company’s stock worth $483,000 after purchasing an additional 18,963 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Reynolds Consumer Products by 38.1% during the first quarter. Versant Capital Management Inc now owns 2,543 shares of the company’s stock valued at $61,000 after purchasing an additional 701 shares in the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Reynolds Consumer Products Price Performance

REYN stock opened at $24.08 on Wednesday. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 14.33 and a beta of 0.64. The firm’s 50-day moving average price is $23.81 and its two-hundred day moving average price is $26.33. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. Reynolds Consumer Products has a 12-month low of $21.90 and a 12-month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. As a group, equities analysts predict that Reynolds Consumer Products will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products’s payout ratio is presently 54.76%.

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.