Brokerages Set Pactiv Evergreen Inc. (NASDAQ:PTVE) PT at $15.75

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVEGet Free Report) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $15.75.

A number of analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Pactiv Evergreen from $12.50 to $14.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Jefferies Financial Group started coverage on Pactiv Evergreen in a research note on Friday, January 19th. They issued a “buy” rating and a $18.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 price target on shares of Pactiv Evergreen in a research report on Monday, March 4th. Robert W. Baird raised their price target on shares of Pactiv Evergreen from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, UBS Group started coverage on shares of Pactiv Evergreen in a report on Tuesday, January 16th. They issued a “buy” rating and a $19.00 price objective for the company.

View Our Latest Stock Report on Pactiv Evergreen

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PTVE. American Century Companies Inc. boosted its stake in Pactiv Evergreen by 0.7% during the third quarter. American Century Companies Inc. now owns 5,393,773 shares of the company’s stock worth $43,851,000 after buying an additional 38,104 shares during the last quarter. Rubric Capital Management LP boosted its holdings in shares of Pactiv Evergreen by 0.8% during the fourth quarter. Rubric Capital Management LP now owns 5,039,766 shares of the company’s stock worth $69,095,000 after purchasing an additional 39,766 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Pactiv Evergreen by 1.1% in the third quarter. Vanguard Group Inc. now owns 3,641,254 shares of the company’s stock valued at $29,603,000 after acquiring an additional 39,663 shares during the last quarter. Morgan Stanley increased its position in shares of Pactiv Evergreen by 4,426.3% during the fourth quarter. Morgan Stanley now owns 3,456,929 shares of the company’s stock worth $39,271,000 after acquiring an additional 3,380,554 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in Pactiv Evergreen by 5.3% in the second quarter. Frontier Capital Management Co. LLC now owns 3,215,536 shares of the company’s stock valued at $24,342,000 after buying an additional 161,331 shares during the last quarter. 22.13% of the stock is currently owned by hedge funds and other institutional investors.

Pactiv Evergreen Stock Performance

Shares of NASDAQ:PTVE opened at $13.23 on Friday. The stock has a market capitalization of $2.36 billion, a P/E ratio of -10.50, a PEG ratio of 0.83 and a beta of 1.51. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 2.69. Pactiv Evergreen has a 52 week low of $6.85 and a 52 week high of $15.25. The firm has a fifty day simple moving average of $14.22 and a two-hundred day simple moving average of $11.65.

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

Pactiv Evergreen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Thursday, March 14th. Pactiv Evergreen’s dividend payout ratio (DPR) is -31.75%.

Pactiv Evergreen Company Profile

(Get Free Report

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.

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Analyst Recommendations for Pactiv Evergreen (NASDAQ:PTVE)

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