Reynolds Consumer Products Inc. (NASDAQ:REYN) Short Interest Update

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,830,000 shares, an increase of 20.4% from the March 15th total of 2,350,000 shares. Currently, 5.2% of the shares of the stock are sold short. Based on an average trading volume of 718,600 shares, the short-interest ratio is currently 3.9 days.

Wall Street Analyst Weigh In

REYN has been the topic of several analyst reports. Evercore ISI reduced their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Truist Financial lowered their target price on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday. Royal Bank of Canada reissued a "sector perform" rating and issued a $32.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Canaccord Genuity Group decreased their price objective on Reynolds Consumer Products from $30.00 to $27.00 and set a "hold" rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus lowered their target price 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. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $28.78.

Reynolds Consumer Products Stock Down 1.0 %

Shares of REYN stock traded down $0.23 on Friday, hitting $23.22. The stock had a trading volume of 659,398 shares, compared to its average volume of 607,572. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 13.82 and a beta of 0.64. Reynolds Consumer Products has a 52-week low of $21.90 and a 52-week 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 stock's 50 day moving average is $23.78 and its 200-day moving average is $26.22.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its earnings results 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 return on equity of 17.14% and a net margin of 9.56%. As a group, research analysts expect that Reynolds Consumer Products will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Friday, May 16th. Reynolds Consumer Products's payout ratio is 54.76%.

Insider Buying and Selling at Reynolds Consumer Products

In other news, Director Rolf Stangl bought 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 acquisition, the director now directly owns 16,889 shares of the company's stock, valued at $420,367.21. The trade was a 55.10 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Reynolds Consumer Products

Several hedge funds and other institutional investors have recently modified their holdings of REYN. Ariel Investments LLC lifted its position in Reynolds Consumer Products by 6.1% in the 4th quarter. Ariel Investments LLC now owns 7,446 shares of the company's stock valued at $201,000 after purchasing an additional 426 shares during the last quarter. Isthmus Partners LLC raised its holdings in shares of Reynolds Consumer Products by 0.6% during the fourth quarter. Isthmus Partners LLC now owns 87,307 shares of the company's stock valued at $2,356,000 after buying an additional 533 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Reynolds Consumer Products by 4.4% during the fourth 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 period. Blue Trust Inc. grew its holdings in 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 buying an additional 698 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Reynolds Consumer Products by 38.1% in the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock worth $61,000 after buying an additional 701 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.

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.