Teacher Retirement System of Texas Sells 718 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Teacher Retirement System of Texas reduced its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,964 shares of the company’s stock after selling 718 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.07% of Reynolds Consumer Products worth $3,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC bought a new stake in Reynolds Consumer Products in the 3rd quarter valued at about $29,000. Blue Trust Inc. increased its stake in shares of Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock worth $35,000 after purchasing an additional 698 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Reynolds Consumer Products in the fourth quarter valued at approximately $40,000. Farther Finance Advisors LLC raised its position in shares of Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock valued at $70,000 after purchasing an additional 2,248 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Reynolds Consumer Products during the 3rd quarter valued at approximately $90,000. 26.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on REYN shares. Stifel Nicolaus reduced their price objective on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Barclays decreased their price objective on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI reduced their target price on Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Canaccord Genuity Group cut their price objective on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.38.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl bought 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the transaction, the director now directly owns 16,889 shares of the company’s stock, valued at $420,367.21. This represents a 55.10 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.

Reynolds Consumer Products Stock Down 0.5 %

Shares of NASDAQ REYN opened at $23.54 on Tuesday. The business has a 50-day moving average of $25.24 and a 200-day moving average of $27.51. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 14.01 and a beta of 0.56. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. Reynolds Consumer Products Inc. has a 12 month low of $23.13 and a 12 month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last released its quarterly 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 net margin of 9.56% and a return on equity of 17.14%. Sell-side analysts expect that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.91%. The ex-dividend date was Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 54.76%.

Reynolds Consumer Products 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.