Charles Schwab Investment Management Inc. Has $11.31 Million Holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Charles Schwab Investment Management Inc. grew its position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 982,661 shares of the company’s stock after purchasing an additional 16,029 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.55% of Pactiv Evergreen worth $11,310,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PTVE. CWM LLC increased its holdings in Pactiv Evergreen by 186.8% in the second quarter. CWM LLC now owns 3,396 shares of the company’s stock worth $38,000 after purchasing an additional 2,212 shares in the last quarter. Federated Hermes Inc. boosted its stake in Pactiv Evergreen by 69.2% during the second quarter. Federated Hermes Inc. now owns 3,605 shares of the company’s stock worth $41,000 after acquiring an additional 1,474 shares in the last quarter. Innealta Capital LLC acquired a new stake in Pactiv Evergreen in the second quarter worth $83,000. Point72 DIFC Ltd increased its stake in Pactiv Evergreen by 33.2% in the second quarter. Point72 DIFC Ltd now owns 7,876 shares of the company’s stock valued at $89,000 after purchasing an additional 1,965 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Pactiv Evergreen in the 2nd quarter valued at about $114,000. 22.23% of the stock is owned by institutional investors.

Pactiv Evergreen Stock Up 18.3 %

Pactiv Evergreen stock opened at $17.36 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. The firm’s fifty day moving average price is $12.38 and its two-hundred day moving average price is $11.86. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -18.87, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35. Pactiv Evergreen Inc. has a 1-year low of $8.83 and a 1-year high of $17.61.

Pactiv Evergreen (NASDAQ:PTVE) last announced its earnings results on Tuesday, November 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Pactiv Evergreen had a positive return on equity of 14.41% and a negative net margin of 3.16%. Pactiv Evergreen’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, equities research analysts predict that Pactiv Evergreen Inc. will post 1.03 earnings per share for the current fiscal year.

Pactiv Evergreen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, December 2nd. Pactiv Evergreen’s dividend payout ratio is currently -43.48%.

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.