Teacher Retirement System of Texas Sells 97,951 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Teacher Retirement System of Texas decreased its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 71.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,013 shares of the company’s stock after selling 97,951 shares during the quarter. Teacher Retirement System of Texas’ holdings in Reynolds Consumer Products were worth $931,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in Reynolds Consumer Products by 38.1% in the first quarter. Versant Capital Management Inc now owns 2,543 shares of the company’s stock valued at $61,000 after acquiring an additional 701 shares during the last quarter. Quarry LP boosted its stake in shares of Reynolds Consumer Products by 187.0% during the fourth quarter. Quarry LP now owns 2,531 shares of the company’s stock valued at $68,000 after purchasing an additional 1,649 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Reynolds Consumer Products by 667.1% during 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 in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Reynolds Consumer Products during the fourth quarter valued at about $165,000. Finally, Deutsche Bank AG boosted its stake in shares of Reynolds Consumer Products by 35.8% during the fourth quarter. Deutsche Bank AG now owns 7,247 shares of the company’s stock valued at $196,000 after purchasing an additional 1,910 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Trading Down 0.4%

Shares of Reynolds Consumer Products stock opened at $21.77 on Tuesday. Reynolds Consumer Products Inc. has a 1 year low of $20.91 and a 1 year high of $32.65. The firm has a market cap of $4.58 billion, a PE ratio of 13.61 and a beta of 0.57. The stock has a fifty day moving average price of $22.01 and a 200-day moving average price of $23.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.80 and a quick ratio of 0.72.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. The firm had revenue of $801.00 million during the quarter, compared to analyst estimates of $821.99 million. During the same period last year, the firm posted $0.23 EPS. The business’s revenue was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Friday, May 16th. Reynolds Consumer Products’s payout ratio is presently 57.50%.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 4,500 shares of the company’s stock in a transaction dated Friday, June 20th. The stock was purchased at an average price of $21.24 per share, for a total transaction of $95,580.00. Following the transaction, the director owned 30,889 shares in the company, valued at $656,082.36. The trade was a 17.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Chris Mayrhofer purchased 18,218 shares of the company’s stock in a transaction dated Thursday, May 29th. The shares were acquired at an average price of $22.14 per share, with a total value of $403,346.52. Following the transaction, the chief accounting officer owned 18,218 shares in the company, valued at approximately $403,346.52. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 34,766 shares of company stock valued at $765,632 in the last ninety days. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

REYN has been the topic of a number of recent analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $30.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, April 28th. JPMorgan Chase & Co. cut their price objective on Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Wall Street Zen raised Reynolds Consumer Products from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Canaccord Genuity Group cut their price target on Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Finally, UBS Group cut their price target on Reynolds Consumer Products from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.33.

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.