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

by · The Cerbat Gem

Reynolds Consumer Products Inc. (NASDAQ:REYN – Get Free Report) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totalling 1,600,000 shares, a drop of 31.3% from the September 15th total of 2,330,000 shares. Based on an average daily trading volume, of 632,800 shares, the short-interest ratio is currently 2.5 days. Currently, 3.0% of the shares of the stock are short sold.

Reynolds Consumer Products Stock Performance

Shares of REYN traded up $0.25 during mid-day trading on Friday, hitting $30.04. The stock had a trading volume of 310,192 shares, compared to its average volume of 573,036. Reynolds Consumer Products has a 52 week low of $24.80 and a 52 week high of $32.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. The business has a fifty day moving average price of $30.79 and a 200-day moving average price of $29.09. The firm has a market cap of $6.31 billion, a P/E ratio of 17.57 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $930.00 million for the quarter, compared to the consensus estimate of $890.71 million. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. On average, equities research analysts expect that Reynolds Consumer Products will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, August 16th. Reynolds Consumer Products’s payout ratio is presently 53.80%.

Institutional Investors Weigh In On Reynolds Consumer Products

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning raised its position in shares of Reynolds Consumer Products by 14.8% in the third quarter. Creative Planning now owns 17,106 shares of the company’s stock worth $532,000 after buying an additional 2,204 shares in the last quarter. CWM LLC lifted its holdings in shares of Reynolds Consumer Products by 45.5% in the 3rd quarter. CWM LLC now owns 32,088 shares of the company’s stock worth $998,000 after acquiring an additional 10,038 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Reynolds Consumer Products by 68.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock valued at $709,000 after purchasing an additional 9,300 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Reynolds Consumer Products during the 2nd quarter valued at $367,000. Finally, AQR Capital Management LLC raised its position in Reynolds Consumer Products by 122.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock worth $43,588,000 after purchasing an additional 858,419 shares during the period. 26.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays lifted 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 Thursday, August 8th. Royal Bank of Canada boosted their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Canaccord Genuity Group raised their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Reynolds Consumer Products presently has an average rating of “Hold” and a consensus price target of $32.33.

Read Our Latest Stock Analysis on REYN

Reynolds Consumer Products Company Profile

(Get Free Report)

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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