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

Reynolds Consumer Products Inc. (NASDAQ:REYN) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 1,920,000 shares, an increase of 24.7% from the June 15th total of 1,540,300 shares. Based on an average daily volume of 482,500 shares, the days-to-cover ratio is currently 4.0 days. Approximately 3.5% of the shares of the company are short sold.

Institutional Trading of Reynolds Consumer Products

Large investors have recently made changes to their positions in the stock. KLCM Advisors Inc. raised its position in shares of Reynolds Consumer Products by 112.6% during the 4th quarter. KLCM Advisors Inc. now owns 522,891 shares of the company’s stock valued at $14,034,000 after purchasing an additional 276,898 shares during the period. Quest Partners LLC bought a new position in shares of Reynolds Consumer Products during the 4th quarter valued at about $913,000. Dimensional Fund Advisors LP increased its stake in Reynolds Consumer Products by 23.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,157,528 shares of the company’s stock worth $31,069,000 after acquiring an additional 218,864 shares during the last quarter. Vanguard Group Inc. lifted its position in Reynolds Consumer Products by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 5,633,309 shares of the company’s stock worth $151,198,000 after buying an additional 25,597 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Reynolds Consumer Products in the fourth quarter valued at $1,145,000. 26.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

REYN has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their target price on Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, May 9th. Barclays raised their price objective on Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price target on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.00.

Reynolds Consumer Products Stock Up 0.2 %

REYN stock traded up $0.05 during trading on Monday, reaching $26.81. 241,359 shares of the stock were exchanged, compared to its average volume of 542,705. The company has a current ratio of 2.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.92. Reynolds Consumer Products has a twelve month low of $24.80 and a twelve month high of $30.54. The firm’s 50 day moving average is $28.26 and its 200 day moving average is $28.22. The firm has a market cap of $5.63 billion, a P/E ratio of 17.04 and a beta of 0.47.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. The company had revenue of $833.00 million for the quarter, compared to analyst estimates of $814.92 million. During the same period in the previous year, the company posted $0.08 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, research analysts forecast that Reynolds Consumer Products will post 1.67 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.92 annualized dividend and a yield of 3.43%. Reynolds Consumer Products’s dividend payout ratio is 58.60%.

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.