ExodusPoint Capital Management LP Lowers Position in Pactiv Evergreen Inc. (NASDAQ:PTVE)

ExodusPoint Capital Management LP decreased its position in Pactiv Evergreen Inc. (NASDAQ:PTVE – Get Rating) by 19.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,643 shares of the company’s stock after selling 2,977 shares during the period. ExodusPoint Capital Management LP’s holdings in Pactiv Evergreen were worth $110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PTVE. Swiss National Bank boosted its holdings in shares of Pactiv Evergreen by 7.3% in the first quarter. Swiss National Bank now owns 104,700 shares of the company’s stock valued at $1,053,000 after acquiring an additional 7,100 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Pactiv Evergreen by 56.6% during the first quarter. MetLife Investment Management LLC now owns 27,051 shares of the company’s stock worth $272,000 after buying an additional 9,778 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Pactiv Evergreen by 161.6% during the first quarter. Dimensional Fund Advisors LP now owns 208,782 shares of the company’s stock worth $2,100,000 after buying an additional 128,984 shares in the last quarter. Sei Investments Co. boosted its holdings in Pactiv Evergreen by 7.3% during the first quarter. Sei Investments Co. now owns 768,138 shares of the company’s stock worth $7,727,000 after buying an additional 52,156 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Pactiv Evergreen by 0.3% during the first quarter. Vanguard Group Inc. now owns 3,530,178 shares of the company’s stock worth $35,514,000 after buying an additional 11,033 shares in the last quarter. Hedge funds and other institutional investors own 21.48% of the company’s stock.

Pactiv Evergreen Stock Performance

NASDAQ:PTVE opened at $11.65 on Friday. The firm has a 50 day simple moving average of $11.17 and a 200-day simple moving average of $10.90. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.41 and a quick ratio of 1.27. The firm has a market cap of $2.07 billion, a PE ratio of 6.51 and a beta of 1.44. Pactiv Evergreen Inc. has a 1-year low of $8.31 and a 1-year high of $12.46.

Analyst Upgrades and Downgrades

PTVE has been the topic of a number of research analyst reports. Citigroup decreased their price objective on shares of Pactiv Evergreen from $13.00 to $12.00 in a report on Wednesday, January 4th. The Goldman Sachs Group upped their price target on shares of Pactiv Evergreen from $10.50 to $12.00 and gave the company a “neutral” rating in a report on Monday, November 14th. Royal Bank of Canada upped their price target on shares of Pactiv Evergreen from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, November 9th. Finally, TheStreet raised shares of Pactiv Evergreen from a “d” rating to a “c-” rating in a report on Wednesday, November 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.17.

Pactiv Evergreen Profile

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Pactiv Evergreen Inc manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in North America. It operates through three segments: Foodservice, Food Merchandising, and Beverage Merchandising. The Foodservice segment offers food containers, hot and cold cups, lids, dinnerware, tableware, service ware, and other products.