35,206 Shares in Pactiv Evergreen Inc. (NASDAQ:PTVE) Purchased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. bought a new position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 35,206 shares of the company’s stock, valued at approximately $483,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in shares of Pactiv Evergreen by 0.7% in the 3rd quarter. American Century Companies Inc. now owns 5,393,773 shares of the company’s stock worth $43,851,000 after purchasing an additional 38,104 shares in the last quarter. Rubric Capital Management LP boosted its holdings in shares of Pactiv Evergreen by 3.8% in the 3rd quarter. Rubric Capital Management LP now owns 5,000,000 shares of the company’s stock worth $40,650,000 after purchasing an additional 184,217 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Pactiv Evergreen by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,641,254 shares of the company’s stock worth $29,603,000 after purchasing an additional 39,663 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Pactiv Evergreen by 8.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 964,110 shares of the company’s stock worth $7,838,000 after purchasing an additional 77,129 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Pactiv Evergreen by 8.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 548,081 shares of the company’s stock worth $4,456,000 after purchasing an additional 41,637 shares in the last quarter. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PTVE has been the subject of a number of research reports. Citigroup upped their price objective on Pactiv Evergreen from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Robert W. Baird increased their target price on Pactiv Evergreen from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, March 4th. UBS Group initiated coverage on Pactiv Evergreen in a report on Tuesday, January 16th. They set a “buy” rating and a $19.00 target price for the company. The Goldman Sachs Group increased their target price on Pactiv Evergreen from $12.50 to $14.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, Bank of America upgraded Pactiv Evergreen from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $16.00 in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Pactiv Evergreen Stock Performance

PTVE opened at $15.00 on Wednesday. The business has a 50 day simple moving average of $14.16 and a two-hundred day simple moving average of $12.81. 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 Inc. has a one year low of $6.85 and a one year high of $15.51.

Pactiv Evergreen (NASDAQ:PTVE) last released its quarterly earnings results on Friday, March 1st. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.19. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Pactiv Evergreen had a positive return on equity of 13.24% and a negative net margin of 4.05%. Pactiv Evergreen’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 EPS. As a group, equities research analysts anticipate that Pactiv Evergreen Inc. will post 1.13 earnings per share for the current fiscal year.

Pactiv Evergreen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Thursday, March 14th. Pactiv Evergreen’s payout ratio is -31.75%.

Pactiv Evergreen Company 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.