Reynolds Consumer Products Inc. (NASDAQ:REYN) Short Interest Up 20.4% in March

Reynolds Consumer Products Inc. (NASDAQ:REYN) was the recipient 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 trading volume, of 718,600 shares, the days-to-cover ratio is presently 3.9 days. Approximately 5.2% of the shares of the stock are sold short.

Reynolds Consumer Products Trading Up 2.4 %

NASDAQ REYN opened at $23.65 on Monday. Reynolds Consumer Products has a one year low of $21.90 and a one year high of $32.65. 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 company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 14.08 and a beta of 0.64. The company’s 50-day simple moving average is $23.83 and its two-hundred day simple moving average is $26.39.

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

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.23 dividend. 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 (DPR) is presently 54.76%.

Analyst Ratings Changes

A number of equities analysts recently commented on REYN shares. Stifel Nicolaus dropped their price target on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Evercore ISI cut their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Canaccord Genuity Group decreased their price target on 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. cut their price objective on Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Barclays reduced their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.00.

Insider Activity

In related news, Director Rolf Stangl purchased 6,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the transaction, the director now directly owns 16,889 shares in the company, valued at $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of large investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its position in shares of Reynolds Consumer Products by 4.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company’s stock worth $363,000 after buying an additional 566 shares during the last quarter. Barclays PLC increased its position in shares of Reynolds Consumer Products by 173.9% during the third quarter. Barclays PLC now owns 63,121 shares of the company’s stock worth $1,963,000 after purchasing an additional 40,075 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Reynolds Consumer Products during the 4th quarter valued at $424,000. Charles Schwab Investment Management Inc. boosted its position in shares of Reynolds Consumer Products by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company’s stock worth $15,976,000 after purchasing an additional 19,044 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Reynolds Consumer Products by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company’s stock worth $157,704,000 after buying an additional 17,756 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors.

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.