Blue Trust Inc. Increases Stock Position in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Blue Trust Inc. lifted its holdings in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 1,590.7% in the fourth quarter, HoldingsChannel reports. The firm owned 7,963 shares of the company’s stock after acquiring an additional 7,492 shares during the period. Blue Trust Inc.’s holdings in Pactiv Evergreen were worth $139,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PTVE. Intech Investment Management LLC acquired a new stake in Pactiv Evergreen during the 3rd quarter valued at $132,000. Paloma Partners Management Co purchased a new stake in Pactiv Evergreen during the 3rd quarter worth about $178,000. Verition Fund Management LLC acquired a new position in Pactiv Evergreen in the 3rd quarter valued at about $215,000. SG Americas Securities LLC purchased a new position in Pactiv Evergreen in the 4th quarter valued at about $270,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Pactiv Evergreen by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,794 shares of the company’s stock worth $303,000 after purchasing an additional 1,431 shares during the last quarter. 22.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PTVE shares. Citigroup reissued a “neutral” rating and issued a $18.00 price objective (up previously from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. UBS Group downgraded Pactiv Evergreen from a “buy” rating to a “neutral” rating and boosted their price target for the company from $16.00 to $18.00 in a report on Friday, January 10th. Jefferies Financial Group restated a “hold” rating and set a $18.00 price objective (up previously from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 target price (up from $14.00) on shares of Pactiv Evergreen in a research note on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Pactiv Evergreen presently has an average rating of “Hold” and a consensus price target of $16.33.

Pactiv Evergreen Stock Up 0.1 %

Shares of PTVE opened at $17.74 on Thursday. Pactiv Evergreen Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $17.81. The company’s fifty day moving average is $17.05 and its two-hundred day moving average is $13.54. The firm has a market cap of $3.18 billion, a PE ratio of -19.28, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26.

Pactiv Evergreen (NASDAQ:PTVE) last issued its earnings results on Tuesday, November 12th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Pactiv Evergreen had a positive return on equity of 14.41% and a negative net margin of 3.16%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company posted $0.32 EPS. The business’s quarterly revenue was down 3.3% on a year-over-year basis. Analysts forecast that Pactiv Evergreen Inc. will post 1.05 earnings per share for the current year.

Pactiv Evergreen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Monday, December 2nd. Pactiv Evergreen’s dividend payout ratio (DPR) is presently -43.48%.

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.