Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) was the target of a large growth in short interest during 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 shares of the company are short sold.
Analysts Set New Price Targets
A number of research firms recently weighed in on REYN. Canaccord Genuity Group lowered their target price on shares of 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 shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Wall Street Zen upgraded shares of Reynolds Consumer Products from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Evercore ISI decreased their price target on shares of 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Reynolds Consumer Products presently has an average rating of "Hold" and an average target price of $28.33.
Read Our Latest Analysis on REYN
Insider Transactions at Reynolds Consumer Products
In other news, CAO Chris Mayrhofer bought 5,048 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were bought at an average price of $21.99 per share, for a total transaction of $111,005.52. Following the purchase, the chief accounting officer now owns 23,266 shares in the company, valued at $511,619.34. This represents a 27.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Rolf Stangl bought 2,500 shares of the stock in a transaction that occurred on 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 purchase, the director now owns 19,389 shares in the company, valued at $450,212.58. This represents a 14.80% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 25,766 shares of company stock worth $572,402 in the last 90 days. 0.15% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Reynolds Consumer Products
A number of hedge funds have recently added to or reduced their stakes in REYN. Ariel Investments LLC lifted its position in shares of Reynolds Consumer Products by 6.1% in the 4th quarter. Ariel Investments LLC now owns 7,446 shares of the company's stock worth $201,000 after purchasing an additional 426 shares during the period. Covestor Ltd lifted its position in shares of Reynolds Consumer Products by 12.3% in the 1st quarter. Covestor Ltd now owns 4,670 shares of the company's stock worth $111,000 after purchasing an additional 513 shares during the period. Isthmus Partners LLC lifted its position in shares of Reynolds Consumer Products by 0.6% in the 4th quarter. Isthmus Partners LLC now owns 87,307 shares of the company's stock worth $2,356,000 after purchasing an additional 533 shares during the period. Envestnet Portfolio Solutions Inc. lifted 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 purchasing an additional 566 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Reynolds Consumer Products by 115.2% in the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock worth $35,000 after purchasing an additional 698 shares during the period. 26.81% of the stock is currently owned by institutional investors.
Reynolds Consumer Products Price Performance
Shares of Reynolds Consumer Products stock traded down $0.54 during trading hours on Thursday, reaching $21.48. The company's stock had a trading volume of 841,786 shares, compared to its average volume of 651,462. The firm has a 50 day moving average price of $23.08 and a 200-day moving average price of $25.05. Reynolds Consumer Products has a one year low of $21.45 and a one year high of $32.65. 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 market cap of $4.52 billion, a P/E ratio of 12.79 and a beta of 0.61.
Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting analysts' consensus estimates of $0.23. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $821.99 million. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The business's quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. On average, analysts predict that Reynolds Consumer Products will post 1.66 EPS for the current year.
Reynolds Consumer Products Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, May 16th. This represents a $0.92 annualized dividend and a yield of 4.28%. Reynolds Consumer Products's payout ratio is 57.50%.
About Reynolds Consumer Products
(
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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.
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