Los Angeles Capital Management LLC Has $167,000 Stock Holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Los Angeles Capital Management LLC trimmed its stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 89.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,468 shares of the company’s stock after selling 118,913 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Pactiv Evergreen were worth $167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PTVE. Allspring Global Investments Holdings LLC boosted its holdings in shares of Pactiv Evergreen by 183.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,543 shares of the company’s stock worth $939,000 after buying an additional 52,775 shares during the period. Point72 DIFC Ltd lifted its position in Pactiv Evergreen by 33.2% during the second quarter. Point72 DIFC Ltd now owns 7,876 shares of the company’s stock worth $89,000 after acquiring an additional 1,965 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Pactiv Evergreen during the second quarter worth approximately $114,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Pactiv Evergreen by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 26,794 shares of the company’s stock worth $303,000 after acquiring an additional 1,431 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Pactiv Evergreen by 54.4% in the second quarter. AQR Capital Management LLC now owns 291,654 shares of the company’s stock valued at $3,302,000 after purchasing an additional 102,730 shares during the last quarter. 22.23% of the stock is currently owned by institutional investors and hedge funds.

Pactiv Evergreen Stock Up 0.5 %

Shares of NASDAQ PTVE opened at $12.35 on Tuesday. The stock has a market capitalization of $2.21 billion, a P/E ratio of -13.42, a PEG ratio of 1.21 and a beta of 1.30. The stock’s fifty day moving average is $11.67 and its 200 day moving average is $11.79. Pactiv Evergreen Inc. has a 52 week low of $8.83 and a 52 week high of $15.84. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.93 and a current ratio of 1.93.

Pactiv Evergreen (NASDAQ:PTVE) last released its earnings results on Tuesday, November 12th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Pactiv Evergreen had a negative net margin of 3.16% and a positive return on equity of 14.41%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the firm earned $0.32 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Sell-side analysts forecast that Pactiv Evergreen Inc. will post 1.03 earnings per share for the current fiscal year.

Pactiv Evergreen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Monday, December 2nd. Pactiv Evergreen’s payout ratio is presently -43.48%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PTVE shares. Robert W. Baird reduced their price target on Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada dropped their target price on Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, UBS Group decreased their price target on shares of Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.57.

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.