Pactiv Evergreen Inc. (NASDAQ:PTVE) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 25,050 shares of the company’s stock after selling 1,389 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Pactiv Evergreen were worth $438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Magnetar Financial LLC acquired a new position in shares of Pactiv Evergreen in the 4th quarter worth approximately $53,645,000. Westchester Capital Management LLC bought a new stake in Pactiv Evergreen during the fourth quarter worth approximately $30,149,000. Hsbc Holdings PLC boosted its holdings in Pactiv Evergreen by 7,831.6% during the fourth quarter. Hsbc Holdings PLC now owns 1,079,488 shares of the company’s stock worth $18,918,000 after buying an additional 1,065,878 shares in the last quarter. Alpine Associates Management Inc. acquired a new position in Pactiv Evergreen in the fourth quarter worth approximately $14,325,000. Finally, Alberta Investment Management Corp bought a new position in shares of Pactiv Evergreen in the fourth quarter valued at $9,958,000. 22.23% of the stock is currently owned by institutional investors and hedge funds.

Pactiv Evergreen Price Performance

Shares of NASDAQ:PTVE opened at $18.01 on Friday. The company has a market capitalization of $3.25 billion, a PE ratio of -19.58, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. 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 has a fifty day moving average of $17.99 and a 200-day moving average of $16.84. Pactiv Evergreen Inc. has a one year low of $8.83 and a one year high of $18.03.

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.