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

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

Several other institutional investors also recently bought and sold shares of the stock. Quarry LP increased its stake in shares of Reynolds Consumer Products by 187.0% in the fourth quarter. Quarry LP now owns 2,531 shares of the company's stock worth $68,000 after purchasing an additional 1,649 shares during the period. Versant Capital Management Inc grew its position in Reynolds Consumer Products by 38.1% during the first quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock worth $61,000 after buying an additional 701 shares in the last quarter. Farther Finance Advisors LLC grew its position in Reynolds Consumer Products by 667.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock worth $70,000 after buying an additional 2,248 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Reynolds Consumer Products during the fourth quarter worth about $165,000. Finally, Deutsche Bank AG boosted its holdings in 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. 26.81% of the stock is currently owned by institutional investors.

Reynolds Consumer Products Trading Down 1.2%

REYN stock traded down $0.26 during trading on Friday, hitting $21.69. The company had a trading volume of 253,009 shares, compared to its average volume of 765,322. The company has a quick ratio of 0.72, a current ratio of 1.80 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $21.94 and a 200-day moving average price of $23.75. Reynolds Consumer Products Inc. has a 12 month low of $20.91 and a 12 month high of $32.65. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 13.56 and a beta of 0.57.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.87%. The firm had revenue of $801.00 million during the quarter, compared to analysts' expectations of $821.99 million. During the same quarter in the previous year, the company posted $0.23 EPS. Reynolds Consumer Products's revenue was down 1.8% on a year-over-year basis. As a group, analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend was Friday, May 16th. Reynolds Consumer Products's payout ratio is 57.50%.

Insider Buying and Selling at Reynolds Consumer Products

In other Reynolds Consumer Products news, CAO Chris Mayrhofer bought 5,048 shares of the company's stock in a transaction on Friday, May 30th. The stock was bought at an average price of $21.99 per share, for a total transaction of $111,005.52. Following the transaction, the chief accounting officer owned 23,266 shares of the company's stock, valued at approximately $511,619.34. The trade was a 27.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rolf Stangl bought 4,500 shares of the company's stock in a transaction on Friday, June 20th. The shares were acquired at an average price of $21.24 per share, with a total value of $95,580.00. Following the transaction, the director directly owned 30,889 shares in the company, valued at approximately $656,082.36. The trade was a 17.05% 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 quarter. Corporate insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on REYN. Canaccord Genuity Group decreased their price objective 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. Truist Financial decreased their price objective on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Barclays decreased their price objective on Reynolds Consumer Products from $22.00 to $21.00 and set an "equal weight" rating on the stock in a report on Tuesday. Finally, Wall Street Zen raised Reynolds Consumer Products from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $27.67.

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.