Short Interest in Reynolds Consumer Products Inc. (NASDAQ:REYN) Expands By 47.6%

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 4,310,000 shares, a growth of 47.6% from the April 30th total of 2,920,000 shares. Based on an average trading volume of 788,900 shares, the days-to-cover ratio is presently 5.5 days. Currently, 8.0% of the company's stock are sold short.

Insider Activity

In related news, Director Rolf Stangl bought 2,500 shares of the stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the purchase, the director now directly owns 19,389 shares of the company's stock, valued at $450,212.58. This represents a 14.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Chris Mayrhofer purchased 5,048 shares of Reynolds Consumer Products stock in a transaction that occurred on Friday, May 30th. The stock was acquired at an average cost of $21.99 per share, with a total value of $111,005.52. Following the acquisition, the chief accounting officer now directly owns 23,266 shares in the company, valued at $511,619.34. This trade represents a 27.71% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 25,766 shares of company stock worth $572,402. 0.15% of the stock is currently owned by company insiders.

Institutional Trading of Reynolds Consumer Products

Several institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its holdings in Reynolds Consumer Products by 488.4% during the first quarter. Jane Street Group LLC now owns 125,724 shares of the company's stock valued at $3,000,000 after acquiring an additional 104,357 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Reynolds Consumer Products by 60.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,853 shares of the company's stock worth $5,317,000 after buying an additional 83,633 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of Reynolds Consumer Products in the 1st quarter worth $1,155,000. Kestra Investment Management LLC purchased a new stake in shares of Reynolds Consumer Products during the 1st quarter worth $346,000. Finally, Nexpoint Asset Management L.P. acquired a new position in Reynolds Consumer Products during the 1st quarter valued at about $2,520,000. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

REYN has been the topic of several research analyst reports. Canaccord Genuity Group decreased their price target on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus lowered their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Truist Financial decreased their price objective on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Evercore ISI dropped their target price 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. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $30.00 price target on shares of Reynolds Consumer Products in a report on Monday, April 28th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $28.33.

Reynolds Consumer Products Stock Down 0.6%

Shares of NASDAQ:REYN traded down $0.13 during midday trading on Tuesday, hitting $21.77. 260,051 shares of the company's stock were exchanged, compared to its average volume of 644,267. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. The stock has a 50 day moving average price of $23.15 and a 200-day moving average price of $25.10. The company has a market cap of $4.58 billion, a PE ratio of 12.96 and a beta of 0.61. Reynolds Consumer Products has a 12 month low of $21.50 and a 12 month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, meeting analysts' consensus estimates of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The company had revenue of $801.00 million for the quarter, compared to analysts' expectations of $821.99 million. During the same period in the prior year, the company posted $0.23 EPS. Reynolds Consumer Products's revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Reynolds Consumer Products will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a yield of 4.23%. Reynolds Consumer Products's dividend payout ratio (DPR) is currently 57.50%.

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.