Teacher Retirement System of Texas Cuts Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Teacher Retirement System of Texas lowered its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,964 shares of the company’s stock after selling 718 shares during the period. Teacher Retirement System of Texas’ holdings in Reynolds Consumer Products were worth $3,697,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in Reynolds Consumer Products by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 16,963 shares of the company’s stock worth $528,000 after purchasing an additional 1,351 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Reynolds Consumer Products by 22.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 70,255 shares of the company’s stock worth $2,185,000 after purchasing an additional 12,798 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Reynolds Consumer Products by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 572,862 shares of the company’s stock worth $17,816,000 after buying an additional 6,065 shares during the period. Cerity Partners LLC raised its holdings in Reynolds Consumer Products by 6.9% during the 3rd quarter. Cerity Partners LLC now owns 22,682 shares of the company’s stock valued at $705,000 after buying an additional 1,457 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Reynolds Consumer Products during the 3rd quarter valued at $851,000. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Price Performance

REYN opened at $23.54 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 14.01 and a beta of 0.56. The stock has a fifty day simple moving average of $25.24 and a two-hundred day simple moving average of $27.51. 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 issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Research analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays lowered their price target on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. UBS Group cut their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus decreased their target price on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, Evercore ISI cut their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Reynolds Consumer Products currently 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 purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the purchase, the director now directly owns 16,889 shares in the company, valued at approximately $420,367.21. This trade represents a 55.10 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

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.