UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $903,000 Position in Pactiv Evergreen Inc. (NASDAQ:PTVE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Pactiv Evergreen Inc. (NASDAQ:PTVE) by 21.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 78,450 shares of the company’s stock after selling 21,078 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Pactiv Evergreen were worth $903,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PTVE. Victory Capital Management Inc. acquired a new position in shares of Pactiv Evergreen in the third quarter worth $2,074,000. Allspring Global Investments Holdings LLC increased its position in Pactiv Evergreen by 183.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,543 shares of the company’s stock worth $939,000 after purchasing an additional 52,775 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Pactiv Evergreen by 25.9% during the 2nd quarter. Renaissance Technologies LLC now owns 590,600 shares of the company’s stock worth $6,686,000 after purchasing an additional 121,400 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of Pactiv Evergreen by 182.3% during the 2nd quarter. Edgestream Partners L.P. now owns 322,743 shares of the company’s stock valued at $3,653,000 after buying an additional 208,409 shares during the last quarter. Finally, Rubric Capital Management LP grew its stake in shares of Pactiv Evergreen by 3.3% in the 2nd quarter. Rubric Capital Management LP now owns 5,726,583 shares of the company’s stock valued at $64,825,000 after buying an additional 185,190 shares in the last quarter. Hedge funds and other institutional investors own 22.23% of the company’s stock.

Pactiv Evergreen Trading Up 0.2 %

Shares of NASDAQ:PTVE opened at $17.27 on Friday. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.04 and a current ratio of 1.93. The stock’s 50-day moving average is $13.32 and its 200-day moving average is $12.14. The company has a market cap of $3.10 billion, a P/E ratio of -18.77, a P/E/G ratio of 1.70 and a beta of 1.35. Pactiv Evergreen Inc. has a 52-week low of $8.83 and a 52-week high of $17.61.

Pactiv Evergreen (NASDAQ:PTVE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Pactiv Evergreen had a positive return on equity of 14.41% and a negative net margin of 3.16%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. Equities research analysts predict that Pactiv Evergreen Inc. will post 1.03 earnings per share for the current year.

Pactiv Evergreen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Monday, December 2nd. Pactiv Evergreen’s payout ratio is presently -43.48%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 target price (up from $14.00) on shares of Pactiv Evergreen in a research note on Thursday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 price objective (up previously from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday. Finally, Citigroup reissued a “neutral” rating and set a $18.00 target price (up from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.86.

Pactiv Evergreen Profile

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.