Short Interest in Reynolds Consumer Products Inc. (NASDAQ:REYN) Expands By 58.3%

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,900,000 shares, an increase of 58.3% from the March 15th total of 1,200,000 shares. Currently, 3.5% of the company's stock are short sold. Based on an average daily volume of 609,600 shares, the short-interest ratio is presently 3.1 days.

Hedge Funds Weigh In On Reynolds Consumer Products

Several institutional investors have recently added to or reduced their stakes in the stock. Olstein Capital Management L.P. boosted its holdings in Reynolds Consumer Products by 7.0% in the 3rd quarter. Olstein Capital Management L.P. now owns 337,000 shares of the company's stock valued at $8,637,000 after purchasing an additional 22,000 shares in the last quarter. Comerica Bank purchased a new stake in Reynolds Consumer Products in the 2nd quarter valued at approximately $3,777,000. FMR LLC lifted its stake in Reynolds Consumer Products by 7.4% in the 3rd quarter. FMR LLC now owns 6,454,619 shares of the company's stock valued at $165,432,000 after buying an additional 442,654 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Reynolds Consumer Products by 840.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 131,324 shares of the company's stock valued at $3,366,000 after buying an additional 117,364 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Reynolds Consumer Products by 2.3% during the 3rd quarter. Barclays PLC now owns 27,586 shares of the company's stock worth $707,000 after buying an additional 632 shares during the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.

Reynolds Consumer Products Stock Down 1.0 %

Reynolds Consumer Products stock traded down $0.29 during midday trading on Monday, reaching $27.97. The company's stock had a trading volume of 615,150 shares, compared to its average volume of 601,469. The business has a 50-day simple moving average of $28.71 and a 200-day simple moving average of $27.22. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 0.92. Reynolds Consumer Products has a fifty-two week low of $24.80 and a fifty-two week high of $30.54. The company has a market cap of $5.88 billion, a P/E ratio of 19.70 and a beta of 0.49.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.03. Reynolds Consumer Products had a return on equity of 15.77% and a net margin of 7.98%. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business's revenue was down 7.5% compared to the same quarter last year. On average, research analysts expect that Reynolds Consumer Products will post 1.61 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Wednesday, February 14th. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 64.79%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on REYN shares. Barclays lifted their target price on Reynolds Consumer Products from $27.00 to $28.00 and gave the company an "equal weight" rating in a report on Friday. Royal Bank of Canada restated a "sector perform" rating and issued a $31.00 price target on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. JPMorgan Chase & Co. raised their price target on Reynolds Consumer Products from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, February 8th. Stifel Nicolaus restated a "hold" rating and issued a $30.00 price target on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Finally, TheStreet upgraded Reynolds Consumer Products from a "c+" rating to a "b-" rating in a research note on Thursday, February 1st. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $29.80.

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.