The Yakhot-Orszag renormalization group is used to analyze the pressure gradient-velocity correlation and return to isotropy terms in the Reynolds stress transport equations. The perturbation series for the relevant correlations, evaluated to lowest order in the epsilon-expansion of the Yakhot-Orszag theory, are infinite series in tensor product powers of the mean velocity gradient and its transpose. Formal lowest order Pade approximations to the sums of these series produce a rapid pressure strain model of the form proposed by Launder, Reece, and Rodi, and a return to isotropy model of the form proposed by Rotta. In both cases, the model constants are computed theoretically. The predicted Reynolds stress ratios in simple shear flows are evaluated and compared with experimental data. The possibility is discussed of deriving higher order nonlinear models by approximating the sums more accurately. The Yakhot-Orszag renormalization group provides a systematic procedure for deriving turbulence models. Typical applications have included theoretical derivation of the universal constants of isotropic turbulence theory, such as the Kolmogorov constant, and derivation of two equation models, again with theoretically computed constants and low Reynolds number forms of the equations. Recent work has applied this formalism to Reynolds stress modeling, previously in the form of a nonlinear eddy viscosity representation of the Reynolds stresses, which can be used to model the simplest normal stress effects. The present work attempts to apply the Yakhot-Orszag formalism to Reynolds stress transport modeling.