14,379 Shares in Pactiv Evergreen Inc. (NASDAQ:PTVE) Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,379 shares of the company’s stock, valued at approximately $115,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State of Wyoming bought a new position in Pactiv Evergreen during the fourth quarter valued at about $30,000. Lazard Asset Management LLC bought a new position in Pactiv Evergreen during the fourth quarter valued at about $31,000. Quantbot Technologies LP bought a new stake in Pactiv Evergreen in the 1st quarter valued at $30,000. UBS Group AG increased its holdings in Pactiv Evergreen by 1,034.3% in the 3rd quarter. UBS Group AG now owns 3,369 shares of the company’s stock valued at $30,000 after buying an additional 3,072 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Pactiv Evergreen by 59.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,570 shares of the company’s stock valued at $37,000 after buying an additional 1,695 shares during the period. Institutional investors own 22.13% of the company’s stock.

Pactiv Evergreen Stock Performance

Pactiv Evergreen stock opened at $8.40 on Tuesday. The stock has a 50-day simple moving average of $8.08 and a 200 day simple moving average of $8.31. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -20.49 and a beta of 1.38. The company has a quick ratio of 1.09, a current ratio of 2.19 and a debt-to-equity ratio of 3.02. Pactiv Evergreen Inc. has a 12-month low of $6.85 and a 12-month high of $12.46.

Pactiv Evergreen (NASDAQ:PTVE) last announced its earnings results on Wednesday, August 2nd. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Pactiv Evergreen had a positive return on equity of 8.64% and a negative net margin of 1.19%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.53 billion. On average, research analysts anticipate that Pactiv Evergreen Inc. will post 0.5 earnings per share for the current fiscal year.

Pactiv Evergreen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 4.76%. Pactiv Evergreen’s dividend payout ratio (DPR) is currently -97.56%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America lowered their price target on shares of Pactiv Evergreen from $11.00 to $9.00 in a report on Monday, July 10th. Royal Bank of Canada upped their price objective on Pactiv Evergreen from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Mizuho lowered their price objective on Pactiv Evergreen from $14.00 to $11.00 in a research note on Wednesday, May 10th. Finally, Citigroup upped their target price on shares of Pactiv Evergreen from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Pactiv Evergreen currently has a consensus rating of “Moderate Buy” and an average target price of $10.67.

Pactiv Evergreen Company Profile

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, tableware, service ware, and other products.