Pactiv Evergreen Inc. (NASDAQ:PTVE) Stock Position Lowered by Northern Trust Corp

Northern Trust Corp lessened its position in Pactiv Evergreen Inc. (NASDAQ:PTVE) by 3.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 433,382 shares of the company’s stock after selling 16,075 shares during the quarter. Northern Trust Corp owned approximately 0.24% of Pactiv Evergreen worth $7,571,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. AlphaQuest LLC increased its stake in shares of Pactiv Evergreen by 10,155.9% during the 4th quarter. AlphaQuest LLC now owns 3,487 shares of the company’s stock worth $61,000 after purchasing an additional 3,453 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Pactiv Evergreen by 1,590.7% during the 4th quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock worth $139,000 after purchasing an additional 7,492 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Pactiv Evergreen during the 4th quarter worth $180,000. Envestnet Asset Management Inc. acquired a new position in shares of Pactiv Evergreen during the 4th quarter worth $257,000. Finally, SG Americas Securities LLC acquired a new position in shares of Pactiv Evergreen during the 4th quarter worth $270,000. Hedge funds and other institutional investors own 22.23% of the company’s stock.

Pactiv Evergreen Stock Performance

Shares of PTVE opened at $18.01 on Monday. Pactiv Evergreen Inc. has a 12 month low of $8.83 and a 12 month high of $18.03. The company’s fifty day moving average is $17.99 and its 200-day moving average is $16.88. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of -19.58, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.

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.