Ellevest Inc. raised its stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE – Free Report) by 58.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,610 shares of the company’s stock after buying an additional 11,636 shares during the period. Ellevest Inc.’s holdings in Pactiv Evergreen were worth $239,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. State of Wyoming purchased a new stake in shares of Pactiv Evergreen in the 4th quarter worth $30,000. Quantbot Technologies LP purchased a new stake in shares of Pactiv Evergreen in the 1st quarter worth $30,000. UBS Group AG increased its stake in shares of Pactiv Evergreen by 1,034.3% in the 3rd quarter. UBS Group AG now owns 3,369 shares of the company’s stock worth $30,000 after purchasing an additional 3,072 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Pactiv Evergreen in the 4th quarter worth $31,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Pactiv Evergreen by 59.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,570 shares of the company’s stock worth $37,000 after purchasing an additional 1,695 shares in the last quarter. 22.13% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on PTVE shares. TheStreet raised shares of Pactiv Evergreen from a “d+” rating to a “c” rating in a report on Wednesday, November 8th. Royal Bank of Canada upped their target price on shares of Pactiv Evergreen from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Finally, Citigroup dropped their target price on shares of Pactiv Evergreen from $9.00 to $8.00 in a report on Tuesday, October 10th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.60.
Pactiv Evergreen Stock Performance
PTVE opened at $11.26 on Wednesday. The firm has a 50-day simple moving average of $8.52 and a two-hundred day simple moving average of $8.09. Pactiv Evergreen Inc. has a 52 week low of $6.85 and a 52 week high of $12.46. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.95 and a quick ratio of 0.98.
Pactiv Evergreen Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Wednesday, November 29th. Pactiv Evergreen’s dividend payout ratio (DPR) is presently -32.52%.
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.
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