Reynolds Consumer Products Inc. (NASDAQ:REYN) Sees Large Growth in Short Interest

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

Hedge Funds Weigh In On Reynolds Consumer Products

Several hedge funds and other institutional investors have recently modified their holdings of REYN. SG Americas Securities LLC acquired a new stake in shares of Reynolds Consumer Products in the second quarter valued at about $695,000. CWM LLC increased its holdings in Reynolds Consumer Products by 368.6% during the 2nd quarter. CWM LLC now owns 22,050 shares of the company’s stock worth $617,000 after purchasing an additional 17,344 shares during the last quarter. Versant Capital Management Inc acquired a new position in shares of Reynolds Consumer Products in the 2nd quarter valued at approximately $39,000. GAMMA Investing LLC boosted its stake in shares of Reynolds Consumer Products by 510.2% during the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after buying an additional 801 shares during the last quarter. Finally, Keynote Financial Services LLC acquired a new stake in shares of Reynolds Consumer Products during the first quarter worth approximately $439,000. 26.81% of the stock is owned by institutional investors and hedge funds.

Reynolds Consumer Products Price Performance

Reynolds Consumer Products stock traded up $0.05 during mid-day trading on Monday, reaching $26.81. The company had a trading volume of 241,359 shares, compared to its average volume of 542,705. The company has a market capitalization of $5.63 billion, a P/E ratio of 17.04 and a beta of 0.47. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.11 and a quick ratio of 1.01. The stock’s 50-day simple moving average is $28.26 and its 200-day simple moving average is $28.22. Reynolds Consumer Products has a 1 year low of $24.80 and a 1 year high of $30.54.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $833.00 million for the quarter, compared to analyst estimates of $814.92 million. Reynolds Consumer Products had a return on equity of 17.09% and a net margin of 8.88%. Reynolds Consumer Products’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. On average, equities analysts predict that Reynolds Consumer Products will post 1.67 EPS for the current year.

Reynolds Consumer Products Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on REYN. Royal Bank of Canada restated a “sector perform” rating and set a $31.00 target price on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Stifel Nicolaus reiterated a “hold” rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Wednesday, March 20th. Canaccord Genuity Group lifted their price objective on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, May 9th. Finally, Barclays raised their price target on Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Reynolds Consumer Products currently has a consensus rating of “Hold” and a consensus price target of $30.00.

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.