Vanguard Group Inc. Purchases 39,663 Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE)

Vanguard Group Inc. raised its position in Pactiv Evergreen Inc. (NASDAQ:PTVE) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,641,254 shares of the company’s stock after acquiring an additional 39,663 shares during the period. Vanguard Group Inc.’s holdings in Pactiv Evergreen were worth $29,603,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PTVE. Morgan Stanley raised its holdings in Pactiv Evergreen by 4,426.3% in the 4th quarter. Morgan Stanley now owns 3,456,929 shares of the company’s stock valued at $39,271,000 after acquiring an additional 3,380,554 shares in the last quarter. Medina Value Partners LLC acquired a new position in Pactiv Evergreen in the 4th quarter valued at approximately $11,544,000. Norges Bank acquired a new position in Pactiv Evergreen in the 4th quarter valued at approximately $4,953,000. First Trust Advisors LP raised its holdings in Pactiv Evergreen by 532.5% in the 1st quarter. First Trust Advisors LP now owns 321,888 shares of the company’s stock valued at $3,238,000 after acquiring an additional 270,993 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Pactiv Evergreen by 33.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 969,765 shares of the company’s stock valued at $7,757,000 after acquiring an additional 244,702 shares in the last quarter. Institutional investors and hedge funds own 22.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup upped their price target on Pactiv Evergreen from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Robert W. Baird increased their target price on Pactiv Evergreen from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Jefferies Financial Group began coverage on Pactiv Evergreen in a report on Friday, January 19th. They issued a “buy” rating and a $18.00 target price for the company. UBS Group began coverage on Pactiv Evergreen in a report on Tuesday, January 16th. They issued a “buy” rating and a $19.00 target price for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 target price on shares of Pactiv Evergreen in a report on Monday, March 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Pactiv Evergreen Trading Down 0.5 %

PTVE stock opened at $14.50 on Friday. The business has a fifty day moving average price of $14.16 and a 200 day moving average price of $12.38. Pactiv Evergreen Inc. has a fifty-two week low of $6.85 and a fifty-two week high of $15.51. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -11.51, a P/E/G ratio of 0.96 and a beta of 1.50. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.00 and a quick ratio of 0.93.

Pactiv Evergreen (NASDAQ:PTVE) last released its quarterly earnings results on Friday, March 1st. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.19. Pactiv Evergreen had a positive return on equity of 13.24% and a negative net margin of 4.05%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm posted $0.18 EPS. The business’s revenue was down 13.7% on a year-over-year basis. Analysts expect that Pactiv Evergreen Inc. will post 1.13 EPS for the current fiscal year.

Pactiv Evergreen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 2.76%. Pactiv Evergreen’s payout ratio is -31.75%.

About Pactiv Evergreen

Pactiv Evergreen Inc manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in the United States, rest of North America, and internationally. It operates in two segments, Foodservice, and Food and Beverage Merchandising. The Foodservice segment offers food containers; drinkware, such as hot and cold cups and lids; and tableware, service ware, and other products.